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






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






3. 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.






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






5. 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






6. 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






7. 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






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






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






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






11. Companies who purchase modules from ERP - SCM and ___ vendors must integrate the different modules together






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






13. The types of contracts: Quantity Contract - ___________






14. 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






15. Request for quotation






16. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






19. The Key _____________ issues: There are many high costs - maintenance requirements (upgrades and compatability) - extensive reorganization of the company






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






21. The primary reason for data warehousing is to _______________






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






23. 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






24. 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






25. 2 categories of collaboration systems: __________ - structured/process






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






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






28. 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






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






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






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






32. The second largest ERP vendor






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






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






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






36. 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






37. Track logistics movement of goods.






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






39. 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






40. 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






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






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






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






44. An outline agreement






45. 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






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






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






48. 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






49. A meta-language for describing markup languages






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