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. Supports team interactions






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






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






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






5. The primary reason for data warehousing is to _______________






6. Price Variance. Maximum cash discount variance.






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






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






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






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






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






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






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






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






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






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






17. Manages the transportation and storage of goods






18. 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






19. The second largest ERP vendor






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






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






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






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






24. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






25. 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






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






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






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






29. 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






30. 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






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






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






33. 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






34. Participation in business processes - such as workflow






35. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






36. Posting periods in FF






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






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






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






40. The types of contracts: Quantity Contract - ___________






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






42. Request for quotation






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






44. 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






45. 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






46. Sends work assignments through an e-mail system






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






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






49. 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.






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