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. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






2. 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






3. The types of contracts: Quantity Contract - ___________






4. A meta-language for describing markup languages






5. 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






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






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






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






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






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






11. The second largest ERP vendor






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






13. 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






14. 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






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






16. 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






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






18. Manages the transportation and storage of goods






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






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






21. 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






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






23. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






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






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






27. A _____ is needed to monitor the quality - objectives - and timelines






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






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






30. Document exchange - shared whiteboards - discussion forums - email






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






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






33. 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






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






35. Price Variance. Maximum cash discount variance.






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






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






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






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






40. Supports team interactions






41. 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






42. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






43. 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.






44. The primary reason for data warehousing is to _______________






45. Posting periods in FF






46. 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






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






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






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






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