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. Price Variance. Maximum cash discount variance.






2. Posting periods in FF






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






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






5. 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.






6. Sends work assignments through an e-mail system






7. 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






8. 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






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






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






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






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






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






14. 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






15. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






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






18. Track logistics movement of goods.






19. 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






20. 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






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






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






23. 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






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






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






26. The second largest ERP vendor






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






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






29. The types of contracts: Quantity Contract - ___________






30. 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






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






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






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






34. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






36. Supports team interactions






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






38. 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






39. 2 categories of collaboration systems: __________ - structured/process






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






41. 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.






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






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






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






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






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






47. Decision support tool for management critical tasks through analytical investigation of complex data associations - supplies management with real-time info - takes information and converts it to data to make useful






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






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






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







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