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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 ___________: Vendor/Expense account exists - process invoice receipt - and then pay.






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






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






4. 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.






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






6. 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






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






8. Participation in business processes - such as workflow






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






10. 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






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






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






13. Price Variance. Maximum cash discount variance.






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






15. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






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






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






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






21. 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






22. 2 categories of collaboration systems: __________ - structured/process






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






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






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






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






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






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






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






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






31. 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






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






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






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






35. 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






36. Request for quotation






37. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






39. The second largest ERP vendor






40. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






42. Track logistics movement of goods.






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






44. An outline agreement






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






46. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






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






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






50. 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







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Can you answer 50 questions in 15 minutes?


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