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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. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial
Material master
Business Analysis Applications
Social networking analysis
Internal business process
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
Vendor master records
Core Applications
Quotation
Document types
3. The types of contracts: Quantity Contract - ___________
Quality Contract
Solid implementation plan
Core ERP components
Material master records
4. A meta-language for describing markup languages
XML (eXtensible Markup Language)
XBRL (eXtensible Business Reporting System)
Proper business analysis
Plant level
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
Internal control issues
Key Business Exposures
Explicit knowledge
Online analytical processing (OLAP
6. Companies who purchase modules from ERP - SCM and ___ vendors must integrate the different modules together
Material master
Quotation
CRM
Plant level
7. he financial periods that are posted for reporting purposes - internal and external.
Posting periods
ERP PEOPLE
Big Bang Method of ERP implementation
Elogistics
8. Purchased by Oracle - Strength in HR management - Widely used in the federal government
Monthly rent payment
Oracle
Peoplesoft
Business Analysis Applications
9. To share ________: One person creates the vendor number. - Everyone then recreates the vendor with the same number and their company code.
Automatic account assignments
Material master
RFQ
Vendor master records
10. You have created a __________. This materialwould be shared at each (smallest unit possible to be considered for a material)
Knowledge management
XBRL (eXtensible Business Reporting System)
Hypertext
Material master
11. The second largest ERP vendor
Oracle
3 way match
Hypertext
Extended ERP components
12. The purpose of __________: Audit Trail. Determines the type of document it is.
XBRL (eXtensible Business Reporting System)
Document numbers
Flexible configuration
ERP PEOPLE
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
Automatic account assignments
Social networking analysis
Database-based workflow system
Organizational standardization
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
Vendor master records
Contracts
Flexible configuration
Valuation Grouping code
15. Includes what management systems: document MS - digital asset MS - web content MS
CMS marketplace
Invoice receipt tolerances
Optimize business performance
Unstructured/information
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
Content management system
Vendor master records
Phased-In Method of ERP Implementation
Organizational standardization
17. Capturing - classifying - evaluating - retrieving - and sharing information assets that provides context for effective decisions and actions
Knowledge management
SAP (Systems - Applications - and Products)
ERP PROCESS
Audit scope and timeframe
18. Manages the transportation and storage of goods
Elogistics
Quotation
Workflow
Audit scope and timeframe
19. Supports the work of teams by facilitating the sharing and flow of information
Collaboration system
Document types
Extended ERP components
Quotation
20. Anything that can be documented - archived - and codified - often with the help of IT
Information partnership
XML (eXtensible Markup Language)
Posting periods
Explicit knowledge
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
RFQ
ERP PEOPLE
Segregation of duties
Oracle
22. You have created a material master. This material be shared at _________
Monthly rent expense
SAP (Systems - Applications - and Products)
Plant level
CRM
23. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer
Unstructured collaboration
Document numbers
Information partnership
Knowledge management
24. Components needed to process a ____________: Vendor - Rent Expense Account - Amount - Invoice - and agreement.
Document numbers
Monthly rent expense
Messaging-based workflow system
Online analytical processing (OLAP
25. What components are needed to ____________: A vendor - an insurance expense account - amount of payment.
Business Analysis Applications
Extended ERP components
Process insurance expense
Posting keys
26. Tell us who is responsible for the document and when it was created.
Proper business analysis
13
Document principles
Internal control issues
27. A _____ is needed to monitor the quality - objectives - and timelines
Information partnership
Solid implementation plan
Explicit knowledge
CMS marketplace
28. The global leader with 30 to 60% of the ERP market
SAP R/3
Optimize business performance
SAP (Systems - Applications - and Products)
Tacit knowledge
29. Impact on auditor responsibility as a consequence of real-time distribution of financial statements
Document unique
Database-based workflow system
Audit scope and timeframe
Explicit knowledge
30. Document exchange - shared whiteboards - discussion forums - email
Information partnership
Unstructured collaboration
Big Bang Method of ERP implementation
Flexible configuration
31. Account and finance - production and materials management - human resource
Audit scope and timeframe
Contracts
Content management system
Core ERP components
32. In ________ - D - R - K - and Z mean: D - Customer R - Invoice K - Vendor Z - Payment
Explicit knowledge
Document principles
Balanced scorecard
Document types
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
Internal control issues
XBRL (eXtensible Business Reporting System)
ERP TECHNOLOGY
Data warehouse
34. The purpose of the ________ for account postings: A tolerance group sets limits for end users (such as dollar limits on transactions)
Tolerance group
Unstructured/information
SAP (Systems - Applications - and Products)
Optimize business performance
35. Price Variance. Maximum cash discount variance.
Explicit knowledge
Purchasing tolerances
Posting keys
Enterprise Resource System (ERP) Software
36. Database constructed for quick searching - retrieval - ad hoc queries - and ease of use
Organizational standardization
Custom made
Data warehouse
Procurement process
37. Categories of intellectual and knowledge-based categories: explicit knowledge and _____________
Tacit knowledge
Document unique
Core Applications
ERP PROCESS
38. Links to other documents on the Web and enables the reader to jump to another document located anywhere on the World Wide Web
Automatic account assignments
Hypertext
Invoice receipt tolerances
Purchasing tolerances
39. The components to setup automatic account assignments: Chart of Accounts - Transaction key - _____________ - Modifier of Transaction Key - Valuation Class
Instance documents
Quotation
Valuation Grouping code
Internal control issues
40. Supports team interactions
CMS marketplace
Groupware
Audit scope and timeframe
3 way match
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
Peoplesoft
Big Bang Method of ERP implementation
Taxonomy Creation
Content management system
42. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans
XBRL (eXtensible Business Reporting System)
Invoice receipt tolerances
Proper business analysis
Balanced scorecard
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.
Audit scope and timeframe
General ledger accounts
Optimize business performance
Proper business analysis
44. The primary reason for data warehousing is to _______________
3 way match
Tolerance group
Optimize business performance
Hypertext
45. Posting periods in FF
Instantaneously
13
Quotation
Social networking analysis
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
Groupware
Elogistics
SAP R/3
Business Analysis Applications
47. ncorrect taxonomy results in invalid mapping that may cause material misrepresentation of financial data
Contracts
Taxonomy Creation
Purchasing tolerances
Monthly rent expense
48. An organization's key strength - the business function that it does better than any of its competitors
Core competency
Process insurance expense
Core Applications
Content management system
49. Best practices for transferring or recreating tacit knowledge: ___________ and joint problem solving
Tacit knowledge
Shadowing
Tolerance group
Database-based workflow system
50. Validation of ________ - ensure that appropriate taxonomy and tags have been applied
Information partnership
Elogistics
Instance documents
Material master records