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. 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






2. Request for quotation






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






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






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






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






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






8. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






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






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






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






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






15. Sends work assignments through an e-mail system






16. Participation in business processes - such as workflow






17. 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






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






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






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. 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






22. Track logistics movement of goods.






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






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






25. 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






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






27. 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






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






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






30. 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.






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






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






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






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






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






36. The primary reason for data warehousing is to _______________






37. 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






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






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






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






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






42. 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.






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






44. 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






45. The types of contracts: Quantity Contract - ___________






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






47. 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






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






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






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