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






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






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






4. Price Variance. Maximum cash discount variance.






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






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






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






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






9. 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






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






11. 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






12. 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






13. The types of contracts: Quantity Contract - ___________






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






15. 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






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






17. 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






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






19. 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






20. 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.






21. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






24. 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.






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






26. Supports team interactions






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






28. 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






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






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






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






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






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






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






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






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






37. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






39. 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






40. A meta-language for describing markup languages






41. Track logistics movement of goods.






42. Sends work assignments through an e-mail system






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






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






45. An outline agreement






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






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






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






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






50. 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