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






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






3. 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






4. 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






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






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






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






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






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






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






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






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






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






14. 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






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






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






17. 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






18. 2 categories of collaboration systems: __________ - structured/process






19. Request for quotation






20. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






21. Manages the transportation and storage of goods






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






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






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






25. 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.






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






27. The types of contracts: Quantity Contract - ___________






28. Supports team interactions






29. Sends work assignments through an e-mail system






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






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






32. 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






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






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






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






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






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






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






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






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






41. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






42. Stores documents in a central location and automatically asks the team members to access the document when it is their turn to edit the document






43. An outline agreement






44. 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






45. 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






46. 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






47. Tell us who is responsible for the document and when it was created.






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






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






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