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. The purpose of __________: Audit Trail. Determines the type of document it is.






2. Track logistics movement of goods.






3. A system that integrates all departments and functions across an organization into a single computer system; helps facilitate communications among departments






4. Posting periods in FF






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






6. 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






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






8. Capturing - classifying - evaluating - retrieving - and sharing information assets that provides context for effective decisions and actions






9. A _____ is needed to monitor the quality - objectives - and timelines






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






11. Attempt by organizations to switch operations from their old legacy systems to a new system in a single event that implements the ERP across the entire company; more ambitious and risk than phased-in method






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






13. 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






14. usiness intelligence - CRM - SCM - e-business






15. 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






16. ncorrect taxonomy results in invalid mapping that may cause material misrepresentation of financial data






17. Facilitates the automation and management of business processes and controls the movement of work through the business process






18. All the steps or business rules - from beginning to end - required for a business process






19. Three things make a _________: Document number. Fiscal Year. Company Code.






20. A meta-language for describing markup languages






21. What components are needed to ____________: A vendor - an insurance expense account - amount of payment.






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






23. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






24. ____________________ categoriesKnowledge repositories (databases) - expertise tools - e-learning applications - discussion and chat technologies - search and data mining tools






25. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






26. Sends work assignments through an e-mail system






27. 1) Single point of failure since all data processing is within one application 2) Complexity makes it difficult to understand 3) User acceptance influences likelihood of success 4) extensive training for many users 5) Inexperience with implementation






28. The primary reason for data warehousing is to _______________






29. Request for quotation






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






31. 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






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






33. You have created a vendor master. This vendor be shared at ________






34. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






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






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






39. 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.






40. 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






41. 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






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






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






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






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






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






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






48. Events consisting of large numbers of relatively simple transactions such as updating accounting records that are stored in several related tables






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






50. The types of contracts: Quantity Contract - ___________