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






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






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






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






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






6. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






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






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






11. 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.






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






13. Links to other documents on the Web and enables the reader to jump to another document located anywhere on the World Wide Web






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






15. he financial periods that are posted for reporting purposes - internal and external.






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






17. Supports team interactions






18. 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






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






20. The second largest ERP vendor






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






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






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






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






25. Includes support for multicountry - multicurrency environments and wide scalability






26. 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






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






28. 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






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






30. 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






31. 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






32. 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.






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






34. Tell us who is responsible for the document and when it was created.






35. Posting periods in FF






36. Price Variance. Maximum cash discount variance.






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






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






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






40. 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






41. 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






42. Request for quotation






43. You have created a __________. This materialwould be shared at each (smallest unit possible to be considered for a material)






44. Participation in business processes - such as workflow






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






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






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






48. 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






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






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