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






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






3. 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






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






5. Sends work assignments through an e-mail system






6. The types of contracts: Quantity Contract - ___________






7. The second largest ERP vendor






8. 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






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






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






11. 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






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






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






14. 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






15. 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






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






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






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






19. 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






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






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






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






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






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






25. Posting periods in FF






26. 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






27. 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






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






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






30. Supports team interactions






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






32. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






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






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






37. 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






38. Manages the transportation and storage of goods






39. The steps to completing the ___________: Vendor/Expense account exists - process invoice receipt - and then pay.






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






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






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






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






44. 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






45. 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.






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






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






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






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






50. 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