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






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






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






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






5. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






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. Request for quotation






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






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






12. Track logistics movement of goods.






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






14. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






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






18. 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






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






20. Manages the transportation and storage of goods






21. The primary reason for data warehousing is to _______________






22. 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.






23. Price Variance. Maximum cash discount variance.






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






25. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






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






28. The types of contracts: Quantity Contract - ___________






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






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






31. 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






32. A meta-language for describing markup languages






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






34. 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






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






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






37. 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






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






39. Supports team interactions






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






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






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






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






44. Companies who purchase modules from ERP - SCM and ___ vendors must integrate the different modules together






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






46. 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






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






48. The Advantages of XBRL: 1) business offers expanded financial info to all interest parties ___________ 2) companies using XBRP database technology can further speed the process of reports and 3) Consumers import XBRL documents into internal databases






49. 2 categories of collaboration systems: __________ - structured/process






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