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






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






3. 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






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






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






6. 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






7. 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






8. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






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






12. 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






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






14. 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






15. The primary reason for data warehousing is to _______________






16. 2 categories of collaboration systems: __________ - structured/process






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






18. Price Variance. Maximum cash discount variance.






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






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






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






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






23. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






24. 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.






25. 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






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






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






28. The second largest ERP vendor






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






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






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






32. Track logistics movement of goods.






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






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






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






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






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






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






39. Supports team interactions






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






41. Sends work assignments through an e-mail system






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






43. 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






44. An outline agreement






45. The types of contracts: Quantity Contract - ___________






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






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






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






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






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