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






2. A meta-language for describing markup languages






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






4. A system that integrates all departments and functions across an organization into a single computer system; helps facilitate communications among departments






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






6. 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.






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






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






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






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






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






12. 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






13. 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






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






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






16. Track logistics movement of goods.






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






18. An outline agreement






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






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






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






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






23. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






24. The second largest ERP vendor






25. 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






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






27. 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






28. The primary reason for data warehousing is to _______________






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






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






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






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






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






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






35. Price Variance. Maximum cash discount variance.






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






37. 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






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






39. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






41. Sends work assignments through an e-mail system






42. 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






43. 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.






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






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






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






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






48. 2 categories of collaboration systems: __________ - structured/process






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






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