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






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






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






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






5. You have created a __________. This materialwould be shared at each (smallest unit possible to be considered for a material)






6. The second largest ERP vendor






7. 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






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






9. 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






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






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






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






13. 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






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






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






16. Links to other documents on the Web and enables the reader to jump to another document located anywhere on the World Wide Web






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






18. 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






19. Track logistics movement of goods.






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






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






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






23. The significance of each of each number: EX: 2/18 net 45 2% cash discount if paid within 18 days - and full payment due within 45 days.






24. Participation in business processes - such as workflow






25. Supports the work of teams by facilitating the sharing and flow of information






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






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






28. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






29. he financial periods that are posted for reporting purposes - internal and external.






30. Sends work assignments through an e-mail system






31. Approach for implementing ERP systems in a phased manner; a popular alternative to the Big Bang method






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






33. 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






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






35. Price Variance. Maximum cash discount variance.






36. 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






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






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






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






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






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






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






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






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






45. 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






46. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






47. Manages the transportation and storage of goods






48. You have created a material master. This material be shared at _________






49. Request for quotation






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