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Test your basic knowledge |
ERP: Enterprise Resource Planning
Start Test
Study First
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. In ________ - D - R - K - and Z mean: D - Customer R - Invoice K - Vendor Z - Payment
Plant level
Contracts
Optimize business performance
Document types
2. Includes support for multicountry - multicurrency environments and wide scalability
Procurement process
Default
Core Applications
SAP R/3
3. All the steps or business rules - from beginning to end - required for a business process
Workflow
Data warehouse
Core competency
Explicit knowledge
4. 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
Automatic account assignments
Internal business process
Peoplesoft
Flexible configuration
5. The purpose of __________: Audit Trail. Determines the type of document it is.
Structured collaboration
Document numbers
Online transaction processing (OLTP)
Posting keys
6. Provides tools to manage the creation - storage - editing - and publication of information in a collaborative environment
Extended ERP components
Structured collaboration
Information partnership
Content management system
7. To share ____________: One person creates the material number - Everyone the recreates the material using the same number and add their plant information to it.
Enterprise Resource System (ERP) Software
ERP TECHNOLOGY
Material master records
Balanced scorecard
8. A system that integrates all departments and functions across an organization into a single computer system; helps facilitate communications among departments
ERP PROCESS
Audit scope and timeframe
Organizational standardization
Enterprise Resource System (ERP) Software
9. Track logistics movement of goods.
Content management system
Big Bang Method of ERP implementation
Automatic account assignments
Messaging-based workflow system
10. 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
Segregation of duties
Big Bang Method of ERP implementation
Material master
Groupware
11. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans
Core competency
Proper business analysis
Payment is too high or low
3 way match
12. Events consisting of large numbers of relatively simple transactions such as updating accounting records that are stored in several related tables
Quality Contract
Online transaction processing (OLTP)
Business Analysis Applications
Document numbers
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
Tacit knowledge
Database-based workflow system
Business Analysis Applications
Big Bang Method of ERP implementation
14. Request for quotation
XBRL (eXtensible Business Reporting System)
Knowledge management
Material master
RFQ
15. Components needed to process a ____________: Vendor - Rent Expense Account - Amount - Invoice - and agreement.
Document numbers
Monthly rent expense
Peoplesoft
Payment is too high or low
16. Three things make a _________: Document number. Fiscal Year. Company Code.
Document unique
Document principles
Segregation of duties
Business Analysis Applications
17. Companies who purchase modules from ERP - SCM and ___ vendors must integrate the different modules together
SAP R/3
Balanced scorecard
RFQ
CRM
18. Where the purchasing tolerances - goods receipt tolerances - and invoice receipt tolerances all are passed.
Online analytical processing (OLAP
ERP PROCESS
Segregation of duties
3 way match
19. What components are needed to ____________: A vendor - an insurance expense account - amount of payment.
Knowledge management
Audit scope and timeframe
Workflow
Process insurance expense
20. 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
Vendor master records
ERP TECHNOLOGY
Organizational standardization
Database-based workflow system
21. The two main ERP applications: Core Applications and ___________
Tolerance group
Business Analysis Applications
Information partnership
XBRL (eXtensible Business Reporting System)
22. Tells whether a transaction is a debit or credit and what G/L account is associated.
Posting keys
Vendor master records
Valuation Grouping code
Plant level
23. Facilitates the automation and management of business processes and controls the movement of work through the business process
Invoice receipt tolerances
Workflow management system
CMS marketplace
Process insurance expense
24. 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
XBRL (eXtensible Business Reporting System)
Business Analysis Applications
XML (eXtensible Markup Language)
Enterprise Resource System (ERP) Software
25. An outline agreement
SAP R/3
Big Bang Method of ERP implementation
Contracts
Knowledge management
26. The steps to completing the ___________ process: Agreement - invoice - payment.
Payment terms
Monthly rent payment
Data warehouse
Dozen
27. Sends work assignments through an e-mail system
Knowledge management
Custom made
Document unique
Messaging-based workflow system
28. You have created a material master. This material be shared at _________
Default
Content management system
Payment is too high or low
Plant level
29. Amount for item with or without order reference - Form small differences automatically - Percentage Over/Under - Quantity Variance - Exceed amount: quantity variance - Blanket purchase order - value and time limit Price variance
Knowledge management systems (KMS)
Messaging-based workflow system
Invoice receipt tolerances
Quality Contract
30. The primary reason for data warehousing is to _______________
Unstructured/information
Optimize business performance
Solid implementation plan
Groupware
31. 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
Phased-In Method of ERP Implementation
General ledger accounts
Key Business Exposures
Hypertext
32. 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
Knowledge management
ERP TECHNOLOGY
Internal control issues
Shadowing
33. Purchased by Oracle - Strength in HR management - Widely used in the federal government
Invoice receipt tolerances
Core ERP components
Social networking analysis
Peoplesoft
34. ____________________ categoriesKnowledge repositories (databases) - expertise tools - e-learning applications - discussion and chat technologies - search and data mining tools
Knowledge management systems (KMS)
Posting keys
Phased-In Method of ERP Implementation
Online transaction processing (OLTP)
35. Supports the work of teams by facilitating the sharing and flow of information
Key Business Exposures
Payment terms
Collaboration system
Posting periods
36. Impact on auditor responsibility as a consequence of real-time distribution of financial statements
Audit scope and timeframe
Company code level
Enterprise Resource System (ERP) Software
CMS marketplace
37. A document that tells us prices - materials - a specified time for a price - a formal agreement. (an informal agreement is an inquiry)
Vendor master records
Knowledge management
Quotation
Key Business Exposures
38. If a shared material is purchased by one "company" in dozens and purchased by another "company" in cases (equal to 10 dozen) - the ______ base unit of measure would be used on the Purchasing tab
Default
Dozen
Key Business Exposures
Document principles
39. A meta-language for describing markup languages
Database-based workflow system
Audit scope and timeframe
Oracle
XML (eXtensible Markup Language)
40. usiness intelligence - CRM - SCM - e-business
Groupware
Extended ERP components
Flexible configuration
Instantaneously
41. 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.
Monthly rent expense
Payment terms
SAP (Systems - Applications - and Products)
Online transaction processing (OLTP)
42. 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
Invoice receipt tolerances
Organizational standardization
Messaging-based workflow system
Explicit knowledge
43. Validation of ________ - ensure that appropriate taxonomy and tags have been applied
XBRL (eXtensible Business Reporting System)
Core Applications
Automatic account assignments
Instance documents
44. The second largest ERP vendor
Oracle
Custom made
Purchasing tolerances
Online analytical processing (OLAP
45. The components to setup automatic account assignments: Chart of Accounts - Transaction key - _____________ - Modifier of Transaction Key - Valuation Class
Valuation Grouping code
RFQ
Collaboration system
Knowledge management
46. 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.
13
Document types
General ledger accounts
Automatic account assignments
47. The Key _____________ issues: There are many high costs - maintenance requirements (upgrades and compatability) - extensive reorganization of the company
Social networking analysis
Vendor master records
ERP PROCESS
Proper business analysis
48. You have created a vendor master. This vendor be shared at ________
Document numbers
Company code level
Key Business Exposures
Balanced scorecard
49. Posting periods in FF
13
ERP PEOPLE
Tacit knowledge
Quotation
50. 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
3 way match
Core ERP components
Payment is too high or low
Messaging-based workflow system