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






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






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






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






6. Manages the transportation and storage of goods






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






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






9. 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






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






11. 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






12. Posting periods in FF






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






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






15. 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






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






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






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






19. 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






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






23. 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






24. 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.






25. The second largest ERP vendor






26. An outline agreement






27. Price Variance. Maximum cash discount variance.






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






29. 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






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






31. 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






32. How can tolerance groups be categorized: They can be either _________ or special. Users must be assigned to special.






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






34. 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






35. Sends work assignments through an e-mail system






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






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






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






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






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






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






42. Enables organizations to clarify their vision and strategy and translate them into action






43. Participation in business processes - such as workflow






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






45. The significance of each of each number: EX: 2/18 net 45 2% cash discount if paid within 18 days - and full payment due within 45 days.






46. Request for quotation






47. You have created a vendor master. This vendor be shared at ________






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






49. Supports team interactions






50. The types of contracts: Quantity Contract - ___________