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






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






3. Price Variance. Maximum cash discount variance.






4. 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






5. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






6. 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






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






8. 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






9. Manages the transportation and storage of goods






10. 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






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






12. The types of contracts: Quantity Contract - ___________






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






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






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






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






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






18. 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






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






20. 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






21. Supports team interactions






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






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






24. Sends work assignments through an e-mail system






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






26. Participation in business processes - such as workflow






27. 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






28. 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






29. The primary reason for data warehousing is to _______________






30. 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






31. Posting periods in FF






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






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






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






35. 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






36. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






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






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






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






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






42. 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






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






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






45. Track logistics movement of goods.






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






47. 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






48. To share ________: One person creates the vendor number. - Everyone then recreates the vendor with the same number and their company code.






49. Request for quotation






50. An outline agreement







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Can you answer 50 questions in 15 minutes?


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