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Test your basic knowledge |
ERP: Enterprise Resource Planning
Start Test
Study First
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 key ________ issues: Employee resistance - retraining and reorientation - more data collection screens required - lack of qualified personnel - security - and employee retention
Default
Automatic account assignments
ERP PEOPLE
Workflow management system
2. The components to setup automatic account assignments: Chart of Accounts - Transaction key - _____________ - Modifier of Transaction Key - Valuation Class
Extended ERP components
Valuation Grouping code
Purchasing tolerances
Explicit knowledge
3. 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
Purchasing tolerances
Online transaction processing (OLTP)
Core ERP components
Dozen
4. Where the purchasing tolerances - goods receipt tolerances - and invoice receipt tolerances all are passed.
Monthly rent payment
CMS marketplace
3 way match
Internal control issues
5. Sends work assignments through an e-mail system
Document unique
Collaboration system
Messaging-based workflow system
Company code level
6. The types of contracts: Quantity Contract - ___________
Workflow management system
Quality Contract
Data warehouse
Posting periods
7. The second largest ERP vendor
Oracle
Internal control issues
Business Analysis Applications
Phased-In Method of ERP Implementation
8. 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
Database-based workflow system
Optimize business performance
Custom made
Instantaneously
9. ____________________ categoriesKnowledge repositories (databases) - expertise tools - e-learning applications - discussion and chat technologies - search and data mining tools
Proper business analysis
Invoice receipt tolerances
Knowledge management systems (KMS)
Database-based workflow system
10. A _____ is needed to monitor the quality - objectives - and timelines
3 way match
Solid implementation plan
Default
Contracts
11. 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
Quality Contract
Valuation Grouping code
Database-based workflow system
Shadowing
12. All the steps or business rules - from beginning to end - required for a business process
Content management system
Extended ERP components
Instantaneously
Workflow
13. Companies who purchase modules from ERP - SCM and ___ vendors must integrate the different modules together
CRM
Groupware
Instance documents
Document types
14. 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
Quotation
Vendor master records
Big Bang Method of ERP implementation
ERP TECHNOLOGY
15. 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
Payment is too high or low
Hypertext
Taxonomy Creation
Workflow management system
16. An organization's key strength - the business function that it does better than any of its competitors
ERP PEOPLE
Business Analysis Applications
Extended ERP components
Core competency
17. A system that integrates all departments and functions across an organization into a single computer system; helps facilitate communications among departments
Business Analysis Applications
Business Analysis Applications
Enterprise Resource System (ERP) Software
Hypertext
18. A document that tells us prices - materials - a specified time for a price - a formal agreement. (an informal agreement is an inquiry)
Database-based workflow system
Explicit knowledge
Quotation
XBRL (eXtensible Business Reporting System)
19. 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
Company code level
Shadowing
Flexible configuration
Material master
20. The purpose of __________: Audit Trail. Determines the type of document it is.
Core competency
Document numbers
Structured collaboration
Explicit knowledge
21. Best practices for transferring or recreating tacit knowledge: ___________ and joint problem solving
Process insurance expense
Shadowing
Payment terms
Messaging-based workflow system
22. You have created a __________. This materialwould be shared at each (smallest unit possible to be considered for a material)
Online analytical processing (OLAP
Optimize business performance
Quality Contract
Material master
23. Impact on auditor responsibility as a consequence of real-time distribution of financial statements
Audit scope and timeframe
Flexible configuration
Collaboration system
Unstructured/information
24. Three things make a _________: Document number. Fiscal Year. Company Code.
Document unique
Flexible configuration
Balanced scorecard
Audit scope and timeframe
25. Posting periods in FF
Online analytical processing (OLAP
Workflow management system
Posting periods
13
26. 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
Online analytical processing (OLAP
Segregation of duties
Document unique
Dozen
27. 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
ERP TECHNOLOGY
Core Applications
Internal control issues
Core competency
28. Events consisting of large numbers of relatively simple transactions such as updating accounting records that are stored in several related tables
Information partnership
Online transaction processing (OLTP)
Knowledge management
CRM
29. Provides tools to manage the creation - storage - editing - and publication of information in a collaborative environment
General ledger accounts
Content management system
Workflow
Information partnership
30. Supports team interactions
Groupware
Business Analysis Applications
Payment terms
Contracts
31. Validation of ________ - ensure that appropriate taxonomy and tags have been applied
Optimize business performance
Internal control issues
Core ERP components
Instance documents
32. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans
Payment is too high or low
Flexible configuration
Proper business analysis
Hypertext
33. Document exchange - shared whiteboards - discussion forums - email
ERP PROCESS
Posting keys
Valuation Grouping code
Unstructured collaboration
34. In ________ - D - R - K - and Z mean: D - Customer R - Invoice K - Vendor Z - Payment
Document types
Document numbers
Procurement process
Online analytical processing (OLAP
35. Tells whether a transaction is a debit or credit and what G/L account is associated.
ERP TECHNOLOGY
Taxonomy Creation
Posting keys
Instance documents
36. 2 categories of collaboration systems: __________ - structured/process
Contracts
Unstructured/information
General ledger accounts
Knowledge management systems (KMS)
37. 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
Core competency
Organizational standardization
Balanced scorecard
Dozen
38. Manages the transportation and storage of goods
Database-based workflow system
Elogistics
Segregation of duties
3 way match
39. The steps to completing the ___________: Vendor/Expense account exists - process invoice receipt - and then pay.
Core ERP components
Groupware
Procurement process
Purchasing tolerances
40. Anything that can be documented - archived - and codified - often with the help of IT
Quality Contract
Knowledge management systems (KMS)
Vendor master records
Explicit knowledge
41. What components are needed to ____________: A vendor - an insurance expense account - amount of payment.
Valuation Grouping code
Core Applications
Flexible configuration
Process insurance expense
42. Capturing - classifying - evaluating - retrieving - and sharing information assets that provides context for effective decisions and actions
Internal control issues
ERP PEOPLE
Knowledge management
Document numbers
43. The steps to completing the ___________ process: Agreement - invoice - payment.
Business Analysis Applications
Elogistics
Company code level
Monthly rent payment
44. 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
Organizational standardization
Invoice receipt tolerances
Payment is too high or low
CMS marketplace
45. 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.
Business Analysis Applications
Payment is too high or low
General ledger accounts
Online analytical processing (OLAP
46. ncorrect taxonomy results in invalid mapping that may cause material misrepresentation of financial data
Monthly rent payment
XBRL (eXtensible Business Reporting System)
Taxonomy Creation
Content management system
47. Purchased by Oracle - Strength in HR management - Widely used in the federal government
Peoplesoft
Data warehouse
Core competency
CRM
48. Includes what management systems: document MS - digital asset MS - web content MS
Information partnership
Peoplesoft
CMS marketplace
ERP PROCESS
49. Supports the work of teams by facilitating the sharing and flow of information
Core Applications
SAP R/3
Key Business Exposures
Collaboration system
50. 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
ERP TECHNOLOGY
Optimize business performance
Segregation of duties
SAP R/3