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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. Enables organizations to clarify their vision and strategy and translate them into action
Default
Payment is too high or low
Audit scope and timeframe
Balanced scorecard
2. Document exchange - shared whiteboards - discussion forums - email
Audit scope and timeframe
Unstructured collaboration
XBRL (eXtensible Business Reporting System)
Data warehouse
3. ____________________ categoriesKnowledge repositories (databases) - expertise tools - e-learning applications - discussion and chat technologies - search and data mining tools
Knowledge management systems (KMS)
Automatic account assignments
Proper business analysis
Shadowing
4. Impact on auditor responsibility as a consequence of real-time distribution of financial statements
Unstructured/information
SAP R/3
Audit scope and timeframe
Document unique
5. 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.
ERP TECHNOLOGY
Big Bang Method of ERP implementation
Invoice receipt tolerances
Payment terms
6. 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
Extended ERP components
Core ERP components
ERP TECHNOLOGY
ERP PROCESS
7. 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
Optimize business performance
SAP (Systems - Applications - and Products)
Posting periods
Internal control issues
8. To share ________: One person creates the vendor number. - Everyone then recreates the vendor with the same number and their company code.
Explicit knowledge
Internal control issues
Vendor master records
Workflow
9. The purpose of __________: Audit Trail. Determines the type of document it is.
Elogistics
Valuation Grouping code
Document numbers
CMS marketplace
10. 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
SAP R/3
Proper business analysis
Key Business Exposures
Segregation of duties
11. Account and finance - production and materials management - human resource
Instance documents
Core ERP components
Business Analysis Applications
Document unique
12. Anything that can be documented - archived - and codified - often with the help of IT
Explicit knowledge
Unstructured/information
Knowledge management systems (KMS)
SAP (Systems - Applications - and Products)
13. The key ________ issues: Employee resistance - retraining and reorientation - more data collection screens required - lack of qualified personnel - security - and employee retention
Unstructured collaboration
ERP PEOPLE
Peoplesoft
Segregation of duties
14. 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
Internal control issues
Monthly rent expense
Document principles
15. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial
Hypertext
ERP PEOPLE
Monthly rent payment
Internal business process
16. Best practices for transferring or recreating tacit knowledge: ___________ and joint problem solving
Vendor master records
Shadowing
Instance documents
Monthly rent payment
17. Provides tools to manage the creation - storage - editing - and publication of information in a collaborative environment
Valuation Grouping code
Content management system
Explicit knowledge
Collaboration system
18. Where the purchasing tolerances - goods receipt tolerances - and invoice receipt tolerances all are passed.
XBRL (eXtensible Business Reporting System)
Database-based workflow system
Core Applications
3 way match
19. 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
Big Bang Method of ERP implementation
ERP TECHNOLOGY
Monthly rent expense
Oracle
20. You have created a vendor master. This vendor be shared at ________
Internal control issues
Company code level
Shadowing
Online analytical processing (OLAP
21. You have created a material master. This material be shared at _________
Plant level
Material master records
Document types
Information partnership
22. An organization's key strength - the business function that it does better than any of its competitors
Quotation
Peoplesoft
Core competency
Data warehouse
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
Invoice receipt tolerances
Tacit knowledge
Data warehouse
Valuation Grouping code
24. Purchased by Oracle - Strength in HR management - Widely used in the federal government
Internal business process
Dozen
Peoplesoft
Content management system
25. Facilitates the automation and management of business processes and controls the movement of work through the business process
Workflow management system
RFQ
Organizational standardization
Purchasing tolerances
26. 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
CMS marketplace
Knowledge management
Flexible configuration
Payment is too high or low
27. Track logistics movement of goods.
Collaboration system
Database-based workflow system
Automatic account assignments
ERP PROCESS
28. 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.
Monthly rent expense
General ledger accounts
Company code level
Document principles
29. The purpose of the ________ for account postings: A tolerance group sets limits for end users (such as dollar limits on transactions)
Tolerance group
RFQ
Workflow
13
30. he financial periods that are posted for reporting purposes - internal and external.
13
Structured collaboration
XML (eXtensible Markup Language)
Posting periods
31. What components are needed to ____________: A vendor - an insurance expense account - amount of payment.
Process insurance expense
Elogistics
Structured collaboration
Key Business Exposures
32. A document that tells us prices - materials - a specified time for a price - a formal agreement. (an informal agreement is an inquiry)
Material master
Quotation
Organizational standardization
Valuation Grouping code
33. 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
Phased-In Method of ERP Implementation
Database-based workflow system
Content management system
Structured collaboration
34. 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
Segregation of duties
Quality Contract
Plant level
Quotation
35. A _____ is needed to monitor the quality - objectives - and timelines
Monthly rent payment
Solid implementation plan
RFQ
ERP PROCESS
36. usiness intelligence - CRM - SCM - e-business
Extended ERP components
Quality Contract
Payment is too high or low
Valuation Grouping code
37. Tell us who is responsible for the document and when it was created.
Proper business analysis
Posting keys
Dozen
Document principles
38. The steps to completing the ___________: Vendor/Expense account exists - process invoice receipt - and then pay.
Workflow
Tolerance group
Procurement process
Monthly rent payment
39. Sends work assignments through an e-mail system
Messaging-based workflow system
Balanced scorecard
ERP PROCESS
Company code level
40. The global leader with 30 to 60% of the ERP market
RFQ
Audit scope and timeframe
Posting keys
SAP (Systems - Applications - and Products)
41. ncorrect taxonomy results in invalid mapping that may cause material misrepresentation of financial data
Payment terms
Material master records
3 way match
Taxonomy Creation
42. 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
Document unique
Shadowing
Core competency
Core Applications
43. A meta-language for describing markup languages
Balanced scorecard
Online transaction processing (OLTP)
Peoplesoft
XML (eXtensible Markup Language)
44. 2 categories of collaboration systems: __________ - structured/process
Process insurance expense
Unstructured/information
Core competency
Messaging-based workflow system
45. You have created a __________. This materialwould be shared at each (smallest unit possible to be considered for a material)
Database-based workflow system
Structured collaboration
Material master
Audit scope and timeframe
46. The second largest ERP vendor
XML (eXtensible Markup Language)
Oracle
Information partnership
Document principles
47. A system that integrates all departments and functions across an organization into a single computer system; helps facilitate communications among departments
Payment is too high or low
Instance documents
13
Enterprise Resource System (ERP) Software
48. Supports the work of teams by facilitating the sharing and flow of information
Elogistics
Taxonomy Creation
Instantaneously
Collaboration system
49. 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
Contracts
Balanced scorecard
Flexible configuration
Payment is too high or low
50. Supports team interactions
Core competency
Groupware
SAP R/3
Database-based workflow system