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. 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.






2. 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






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






4. 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






5. 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






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






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






8. 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






9. Participation in business processes - such as workflow






10. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






14. 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






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






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






17. 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.






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






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






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






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






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






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






24. 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






25. Links to other documents on the Web and enables the reader to jump to another document located anywhere on the World Wide Web






26. 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






27. Manages the transportation and storage of goods






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






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






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






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






32. 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






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






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






35. Supports team interactions






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






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






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






39. The types of contracts: Quantity Contract - ___________






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






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






42. 2 categories of collaboration systems: __________ - structured/process






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






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






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






46. 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






47. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






48. 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






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






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