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






2. 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






3. Price Variance. Maximum cash discount variance.






4. 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






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






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






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






8. 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






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






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






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






12. Track logistics movement of goods.






13. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






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






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






17. Participation in business processes - such as workflow






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






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






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






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






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






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






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






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






26. 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






27. 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






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






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






30. 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






31. An outline agreement






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






33. 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






34. 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






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






36. 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.






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






38. 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






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






40. The second largest ERP vendor






41. Request for quotation






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






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






44. Manages the transportation and storage of goods






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






46. Sends work assignments through an e-mail system






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






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






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






50. Posting periods in FF