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






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






3. 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






4. 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






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






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






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






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






9. Supports team interactions






10. 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






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






12. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






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






16. 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.






17. 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






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






19. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






20. 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






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






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






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






24. 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






25. 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






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






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






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






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






30. Price Variance. Maximum cash discount variance.






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






32. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






33. Request for quotation






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






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






36. The second largest ERP vendor






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






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






39. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






40. 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






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






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






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






44. 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.






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






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






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






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






50. Posting periods in FF