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. 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






2. To share ____________: One person creates the material number - Everyone the recreates the material using the same number and add their plant information to it.






3. Sends work assignments through an e-mail system






4. 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






5. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






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






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






9. 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






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






11. 2 categories of collaboration systems: __________ - structured/process






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






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






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






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






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






17. 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.






18. Price Variance. Maximum cash discount variance.






19. The two main ERP applications: Core Applications and ___________






20. 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






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






22. Manages the transportation and storage of goods






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






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






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






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






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






28. Participation in business processes - such as workflow






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






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






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






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






33. Request for quotation






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






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






36. 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.






37. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






40. A meta-language for describing markup languages






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. 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






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






45. 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






46. Track logistics movement of goods.






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






48. 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






49. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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