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






2. An outline agreement






3. Posting periods in FF






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






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






6. Supports team interactions






7. The primary reason for data warehousing is to _______________






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






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






10. 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






11. 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






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






13. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






14. 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






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






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






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






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






19. 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






20. How can tolerance groups be categorized: They can be either _________ or special. Users must be assigned to special.






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






22. 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.






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






24. 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






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






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






27. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






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






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






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






32. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






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






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






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






38. 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






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






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






41. 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






42. 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






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






44. Request for quotation






45. 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






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






47. 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






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






49. Participation in business processes - such as workflow






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