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: There are many high costs - maintenance requirements (upgrades and compatability) - extensive reorganization of the company






2. 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






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






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






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






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






7. 2 categories of collaboration systems: __________ - structured/process






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






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






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






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






13. An outline agreement






14. 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






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






16. 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






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






18. Sends work assignments through an e-mail system






19. Posting periods in FF






20. 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






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






22. 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






23. The primary reason for data warehousing is to _______________






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






25. The types of contracts: Quantity Contract - ___________






26. Supports team interactions






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






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






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






30. 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






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






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






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






34. Price Variance. Maximum cash discount variance.






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






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






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






38. You have created a material master. This material be shared at _________






39. 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






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






41. 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.






42. Request for quotation






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






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






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






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






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






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






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






50. A meta-language for describing markup languages