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






2. 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






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






4. 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






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






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






8. 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






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






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






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. 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






13. 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.






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






15. 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






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






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






18. 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






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






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






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






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






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






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






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






26. 2 categories of collaboration systems: __________ - structured/process






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






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






29. Participation in business processes - such as workflow






30. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






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






34. 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






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






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






37. Price Variance. Maximum cash discount variance.






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






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






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






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






42. Sends work assignments through an e-mail system






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






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






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






46. Supports team interactions






47. 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






48. The primary reason for data warehousing is to _______________






49. 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






50. The second largest ERP vendor