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Test your basic knowledge |
ERP: Enterprise Resource Planning
Start Test
Study First
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. 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
Process insurance expense
Instance documents
Custom made
Business Analysis Applications
2. A document that tells us prices - materials - a specified time for a price - a formal agreement. (an informal agreement is an inquiry)
Document unique
XBRL (eXtensible Business Reporting System)
ERP PEOPLE
Quotation
3. 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.
Online analytical processing (OLAP
General ledger accounts
Invoice receipt tolerances
Material master
4. A process of mapping a group's contacts to identify who knows whom and who works with whom
Document principles
Material master records
Social networking analysis
Tolerance group
5. Includes support for multicountry - multicurrency environments and wide scalability
Peoplesoft
SAP R/3
Knowledge management
Knowledge management systems (KMS)
6. Best practices for transferring or recreating tacit knowledge: ___________ and joint problem solving
Online transaction processing (OLTP)
Shadowing
SAP (Systems - Applications - and Products)
Segregation of duties
7. Account and finance - production and materials management - human resource
Tolerance group
Core ERP components
Explicit knowledge
Shadowing
8. Participation in business processes - such as workflow
Online transaction processing (OLTP)
Workflow management system
Structured collaboration
Taxonomy Creation
9. Tells whether a transaction is a debit or credit and what G/L account is associated.
Plant level
Material master records
Posting keys
Peoplesoft
10. The primary reason for data warehousing is to _______________
Database-based workflow system
Default
Explicit knowledge
Optimize business performance
11. 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
CRM
Payment is too high or low
Document types
Database-based workflow system
12. Impact on auditor responsibility as a consequence of real-time distribution of financial statements
Posting periods
Default
Collaboration system
Audit scope and timeframe
13. 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
Plant level
Tolerance group
Organizational standardization
Internal business process
14. The steps to completing the ___________: Vendor/Expense account exists - process invoice receipt - and then pay.
Proper business analysis
Custom made
Automatic account assignments
Procurement process
15. The components to setup automatic account assignments: Chart of Accounts - Transaction key - _____________ - Modifier of Transaction Key - Valuation Class
Key Business Exposures
Valuation Grouping code
Structured collaboration
Posting periods
16. 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
Workflow
XBRL (eXtensible Business Reporting System)
Core Applications
Quotation
17. A meta-language for describing markup languages
Monthly rent payment
Material master records
Default
XML (eXtensible Markup Language)
18. The purpose of the ________ for account postings: A tolerance group sets limits for end users (such as dollar limits on transactions)
Tolerance group
Company code level
Extended ERP components
3 way match
19. 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
Organizational standardization
Segregation of duties
Purchasing tolerances
General ledger accounts
20. Categories of intellectual and knowledge-based categories: explicit knowledge and _____________
Social networking analysis
Tacit knowledge
Document principles
13
21. 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
ERP TECHNOLOGY
Extended ERP components
Flexible configuration
Vendor master records
22. Companies who purchase modules from ERP - SCM and ___ vendors must integrate the different modules together
Hypertext
Knowledge management
Monthly rent payment
CRM
23. The key concerns when dealing with ___________________ related to ERP roles: 1) the creation of unnecessary roles 2) the rule of least access should apply to permission assignments and 3) monitor role creation and permission-granting activities
Process insurance expense
Plant level
Internal control issues
SAP (Systems - Applications - and Products)
24. The types of contracts: Quantity Contract - ___________
Instantaneously
XBRL (eXtensible Business Reporting System)
Database-based workflow system
Quality Contract
25. The steps to completing the ___________ process: Agreement - invoice - payment.
Unstructured/information
Vendor master records
Monthly rent payment
Online transaction processing (OLTP)
26. How can tolerance groups be categorized: They can be either _________ or special. Users must be assigned to special.
Default
Document types
CRM
Messaging-based workflow system
27. An XML base language for standardizing methods for preparing - publishing - and exchanging financial information
XBRL (eXtensible Business Reporting System)
Structured collaboration
Flexible configuration
Knowledge management systems (KMS)
28. Provides tools to manage the creation - storage - editing - and publication of information in a collaborative environment
Document unique
Dozen
Solid implementation plan
Content management system
29. To share ________: One person creates the vendor number. - Everyone then recreates the vendor with the same number and their company code.
Material master
Peoplesoft
Core Applications
Vendor master records
30. Includes what management systems: document MS - digital asset MS - web content MS
Document unique
CMS marketplace
13
Posting periods
31. Components needed to process a ____________: Vendor - Rent Expense Account - Amount - Invoice - and agreement.
Valuation Grouping code
Groupware
Online analytical processing (OLAP
Monthly rent expense
32. Where the purchasing tolerances - goods receipt tolerances - and invoice receipt tolerances all are passed.
Monthly rent payment
CMS marketplace
3 way match
Online analytical processing (OLAP
33. The two main ERP applications: Core Applications and ___________
Business Analysis Applications
Organizational standardization
Database-based workflow system
CRM
34. An organization's key strength - the business function that it does better than any of its competitors
Structured collaboration
Core competency
Content management system
Workflow
35. To share ____________: One person creates the material number - Everyone the recreates the material using the same number and add their plant information to it.
Phased-In Method of ERP Implementation
Workflow
Key Business Exposures
Material master records
36. Price Variance. Maximum cash discount variance.
Elogistics
Posting keys
Purchasing tolerances
Document types
37. Database constructed for quick searching - retrieval - ad hoc queries - and ease of use
Material master
Key Business Exposures
Data warehouse
Custom made
38. Anything that can be documented - archived - and codified - often with the help of IT
Document numbers
Enterprise Resource System (ERP) Software
Explicit knowledge
Oracle
39. Validation of ________ - ensure that appropriate taxonomy and tags have been applied
Instance documents
Contracts
Internal control issues
Document numbers
40. 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
Flexible configuration
Knowledge management systems (KMS)
Procurement process
ERP PEOPLE
41. Request for quotation
Procurement process
SAP (Systems - Applications - and Products)
RFQ
Information partnership
42. In ________ - D - R - K - and Z mean: D - Customer R - Invoice K - Vendor Z - Payment
Document types
Document numbers
Shadowing
Material master records
43. 2 categories of collaboration systems: __________ - structured/process
Messaging-based workflow system
Unstructured/information
Structured collaboration
XML (eXtensible Markup Language)
44. Purchased by Oracle - Strength in HR management - Widely used in the federal government
Automatic account assignments
Core Applications
Explicit knowledge
Peoplesoft
45. The Key _____________ issues: There are many high costs - maintenance requirements (upgrades and compatability) - extensive reorganization of the company
Knowledge management
ERP PROCESS
Unstructured collaboration
Instance documents
46. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer
Information partnership
Social networking analysis
Automatic account assignments
Core competency
47. The global leader with 30 to 60% of the ERP market
SAP (Systems - Applications - and Products)
Core competency
Workflow
Online analytical processing (OLAP
48. Enables organizations to clarify their vision and strategy and translate them into action
Balanced scorecard
SAP (Systems - Applications - and Products)
Knowledge management systems (KMS)
Company code level
49. The key ________ issues: Employee resistance - retraining and reorientation - more data collection screens required - lack of qualified personnel - security - and employee retention
Collaboration system
ERP PEOPLE
Solid implementation plan
Material master records
50. 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
Payment is too high or low
Contracts
Online analytical processing (OLAP
Vendor master records