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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






17. 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






18. 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.






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






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






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






22. Price Variance. Maximum cash discount variance.






23. 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






24. Track logistics movement of goods.






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






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






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






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






29. 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






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






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






32. 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






33. 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






34. 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






35. 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






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






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






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






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






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






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






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






43. Posting periods in FF






44. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






45. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






46. An outline agreement






47. 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.






48. 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






49. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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