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






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






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






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






6. Sends work assignments through an e-mail system






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






8. Price Variance. Maximum cash discount variance.






9. 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






10. Manages the transportation and storage of goods






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






12. A meta-language for describing markup languages






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






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






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






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






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






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






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






20. 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






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






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






23. 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






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






25. 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






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






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






28. The primary reason for data warehousing is to _______________






29. 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






30. The second largest ERP vendor






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






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






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






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






35. The Advantages of XBRL: 1) business offers expanded financial info to all interest parties ___________ 2) companies using XBRP database technology can further speed the process of reports and 3) Consumers import XBRL documents into internal databases






36. 2 categories of collaboration systems: __________ - structured/process






37. 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






38. An outline agreement






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






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






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






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






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






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






45. 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






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






47. Track logistics movement of goods.






48. Request for quotation






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






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







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