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. Request for quotation






2. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






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






5. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






7. 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






8. Sends work assignments through an e-mail system






9. An outline agreement






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






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






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






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






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






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






16. 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






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






18. Track logistics movement of goods.






19. 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






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






21. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






22. 2 categories of collaboration systems: __________ - structured/process






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






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






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






26. The primary reason for data warehousing is to _______________






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






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






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






31. 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






32. 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






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






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






35. Price Variance. Maximum cash discount variance.






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






37. The purpose of __________: Audit Trail. Determines the type of document it is.






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






39. 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.






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






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






42. Manages the transportation and storage of goods






43. 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






44. 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






45. 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






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






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






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






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






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