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. 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






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






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






4. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






6. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






8. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






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






11. An XML base language for standardizing methods for preparing - publishing - and exchanging financial information






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






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






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






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






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






17. Track logistics movement of goods.






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






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






21. 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






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






23. 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.






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






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






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






27. A meta-language for describing markup languages






28. 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






29. The second largest ERP vendor






30. 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






31. 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






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






33. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






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






36. The primary reason for data warehousing is to _______________






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






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






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






40. Request for quotation






41. 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






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






43. 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






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






45. 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






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






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






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






49. 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






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