Test your basic knowledge |

ERP: Enterprise Resource Planning

Subject : it-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Decision support tool for management critical tasks through analytical investigation of complex data associations - supplies management with real-time info - takes information and converts it to data to make useful






2. A document that tells us prices - materials - a specified time for a price - a formal agreement. (an informal agreement is an inquiry)






3. To share _________: One person creates the G/L Account. - Everyone then creates it with the same number - while adding their company code data to it.






4. A process of mapping a group's contacts to identify who knows whom and who works with whom






5. Includes support for multicountry - multicurrency environments and wide scalability






6. Best practices for transferring or recreating tacit knowledge: ___________ and joint problem solving






7. Account and finance - production and materials management - human resource






8. Participation in business processes - such as workflow






9. Tells whether a transaction is a debit or credit and what G/L account is associated.






10. The primary reason for data warehousing is to _______________






11. For what reasons might a company refuse payment of an invoice from a vendor: It might be refused because the _____________ - the quantity of the shipment is too high or too low - could be a damaged good - a wrong good - or may have arrived before or






12. Impact on auditor responsibility as a consequence of real-time distribution of financial statements






13. Benefits of ERP: 1) ERPs employ proven best practices - 2) Enable _____________ 3) Improve information management including eliminating duplicative systems - providing on-line and real-time info - and facilitating intra- and inter-organizational comm






14. The steps to completing the ___________: Vendor/Expense account exists - process invoice receipt - and then pay.






15. The components to setup automatic account assignments: Chart of Accounts - Transaction key - _____________ - Modifier of Transaction Key - Valuation Class






16. Applications that operationally support the day-to-day activities of the business - support mission-critical tasks through simple queries of operational databases. Include sales and distribution - business planning - production planning - shop floor






17. A meta-language for describing markup languages






18. The purpose of the ________ for account postings: A tolerance group sets limits for end users (such as dollar limits on transactions)






19. Some of the major implications for Internal Control and Auditing when dealing with ERP systems: 1) Transaction authorization - 2) _____________ 3) supervision 4) accounting records 5)independent verification 6) access controls 7) traditional access c






20. Categories of intellectual and knowledge-based categories: explicit knowledge and _____________






21. The key _______ issued: 1) difficulty of migration from legacy systems to ERP database - 2) lack of interoperability among different vendors - 3)and continual maintenance requirements






22. Companies who purchase modules from ERP - SCM and ___ vendors must integrate the different modules together






23. The key concerns when dealing with ___________________ related to ERP roles: 1) the creation of unnecessary roles 2) the rule of least access should apply to permission assignments and 3) monitor role creation and permission-granting activities






24. The types of contracts: Quantity Contract - ___________






25. The steps to completing the ___________ process: Agreement - invoice - payment.






26. How can tolerance groups be categorized: They can be either _________ or special. Users must be assigned to special.






27. An XML base language for standardizing methods for preparing - publishing - and exchanging financial information






28. Provides tools to manage the creation - storage - editing - and publication of information in a collaborative environment






29. To share ________: One person creates the vendor number. - Everyone then recreates the vendor with the same number and their company code.






30. Includes what management systems: document MS - digital asset MS - web content MS






31. Components needed to process a ____________: Vendor - Rent Expense Account - Amount - Invoice - and agreement.






32. Where the purchasing tolerances - goods receipt tolerances - and invoice receipt tolerances all are passed.






33. The two main ERP applications: Core Applications and ___________






34. An organization's key strength - the business function that it does better than any of its competitors






35. To share ____________: One person creates the material number - Everyone the recreates the material using the same number and add their plant information to it.






36. Price Variance. Maximum cash discount variance.






37. Database constructed for quick searching - retrieval - ad hoc queries - and ease of use






38. Anything that can be documented - archived - and codified - often with the help of IT






39. Validation of ________ - ensure that appropriate taxonomy and tags have been applied






40. ERP is different: 1)The system usually resides on multiple computers - 2) the system allows ______________ - customization - and maintenance 3) On-line and real-time processing (all databases are updated simultaneously and all stored together) 4) Dat






41. Request for quotation






42. In ________ - D - R - K - and Z mean: D - Customer R - Invoice K - Vendor Z - Payment






43. 2 categories of collaboration systems: __________ - structured/process






44. Purchased by Oracle - Strength in HR management - Widely used in the federal government






45. The Key _____________ issues: There are many high costs - maintenance requirements (upgrades and compatability) - extensive reorganization of the company






46. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






47. The global leader with 30 to 60% of the ERP market






48. Enables organizations to clarify their vision and strategy and translate them into action






49. The key ________ issues: Employee resistance - retraining and reorientation - more data collection screens required - lack of qualified personnel - security - and employee retention






50. Enterprise resource planning tool used to supply management with real time information. it also permits timely decisions that are needed to improve performance and achieve a competitive advantage