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Test your basic knowledge |
ERP: Enterprise Resource Planning
Start Test
Study First
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. 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
Core Applications
Contracts
Explicit knowledge
Taxonomy Creation
2. Categories of intellectual and knowledge-based categories: explicit knowledge and _____________
Business Analysis Applications
Tacit knowledge
Custom made
Material master
3. All the steps or business rules - from beginning to end - required for a business process
Workflow
Hypertext
Quotation
Information partnership
4. A system that integrates all departments and functions across an organization into a single computer system; helps facilitate communications among departments
Enterprise Resource System (ERP) Software
RFQ
Posting keys
Payment is too high or low
5. You have created a __________. This materialwould be shared at each (smallest unit possible to be considered for a material)
General ledger accounts
XBRL (eXtensible Business Reporting System)
Payment terms
Material master
6. Database constructed for quick searching - retrieval - ad hoc queries - and ease of use
Messaging-based workflow system
Monthly rent payment
Data warehouse
Workflow management system
7. To share ____________: One person creates the material number - Everyone the recreates the material using the same number and add their plant information to it.
SAP R/3
Material master records
Explicit knowledge
Tolerance group
8. 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
Data warehouse
Collaboration system
Internal control issues
Extended ERP components
9. 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
ERP TECHNOLOGY
Oracle
Proper business analysis
Content management system
10. Participation in business processes - such as workflow
CRM
Structured collaboration
Segregation of duties
Key Business Exposures
11. 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
Segregation of duties
Organizational standardization
Proper business analysis
XML (eXtensible Markup Language)
12. 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.
Payment terms
Unstructured collaboration
Key Business Exposures
Process insurance expense
13. ____________________ categoriesKnowledge repositories (databases) - expertise tools - e-learning applications - discussion and chat technologies - search and data mining tools
Document numbers
Purchasing tolerances
Knowledge management systems (KMS)
Database-based workflow system
14. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial
CMS marketplace
Instance documents
Plant level
Internal business process
15. Impact on auditor responsibility as a consequence of real-time distribution of financial statements
Audit scope and timeframe
Core competency
ERP PROCESS
Valuation Grouping code
16. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______
Social networking analysis
Instance documents
Custom made
Structured collaboration
17. The primary reason for data warehousing is to _______________
Optimize business performance
XBRL (eXtensible Business Reporting System)
Vendor master records
Audit scope and timeframe
18. 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
Default
RFQ
Extended ERP components
Segregation of duties
19. What components are needed to ____________: A vendor - an insurance expense account - amount of payment.
Procurement process
Payment is too high or low
Process insurance expense
Taxonomy Creation
20. Events consisting of large numbers of relatively simple transactions such as updating accounting records that are stored in several related tables
Collaboration system
Online transaction processing (OLTP)
Document unique
Key Business Exposures
21. Includes support for multicountry - multicurrency environments and wide scalability
Segregation of duties
Payment terms
SAP R/3
Document principles
22. 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
Material master records
SAP (Systems - Applications - and Products)
Key Business Exposures
Process insurance expense
23. Document exchange - shared whiteboards - discussion forums - email
Hypertext
Unstructured collaboration
ERP PROCESS
Material master
24. Purchased by Oracle - Strength in HR management - Widely used in the federal government
Payment terms
Posting periods
Flexible configuration
Peoplesoft
25. Best practices for transferring or recreating tacit knowledge: ___________ and joint problem solving
Workflow management system
Extended ERP components
Shadowing
Internal business process
26. usiness intelligence - CRM - SCM - e-business
Extended ERP components
Instantaneously
Purchasing tolerances
Workflow management system
27. 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
Instantaneously
Contracts
13
Enterprise Resource System (ERP) Software
28. In ________ - D - R - K - and Z mean: D - Customer R - Invoice K - Vendor Z - Payment
Instance documents
Document types
Groupware
Messaging-based workflow system
29. A meta-language for describing markup languages
XML (eXtensible Markup Language)
Internal control issues
Contracts
ERP TECHNOLOGY
30. Where the purchasing tolerances - goods receipt tolerances - and invoice receipt tolerances all are passed.
3 way match
Hypertext
Payment terms
CRM
31. Validation of ________ - ensure that appropriate taxonomy and tags have been applied
General ledger accounts
Audit scope and timeframe
Optimize business performance
Instance documents
32. A document that tells us prices - materials - a specified time for a price - a formal agreement. (an informal agreement is an inquiry)
Custom made
Quotation
Knowledge management
Posting periods
33. 2 categories of collaboration systems: __________ - structured/process
Optimize business performance
Posting periods
Unstructured/information
Tolerance group
34. The second largest ERP vendor
Oracle
Payment terms
Document types
Core ERP components
35. An organization's key strength - the business function that it does better than any of its competitors
Tacit knowledge
13
Data warehouse
Core competency
36. The Key _____________ issues: There are many high costs - maintenance requirements (upgrades and compatability) - extensive reorganization of the company
Core competency
Enterprise Resource System (ERP) Software
Internal business process
ERP PROCESS
37. Facilitates the automation and management of business processes and controls the movement of work through the business process
Workflow management system
Process insurance expense
Content management system
Core Applications
38. The key ________ issues: Employee resistance - retraining and reorientation - more data collection screens required - lack of qualified personnel - security - and employee retention
Payment terms
Audit scope and timeframe
Groupware
ERP PEOPLE
39. Sends work assignments through an e-mail system
Document types
Messaging-based workflow system
Structured collaboration
XBRL (eXtensible Business Reporting System)
40. Three things make a _________: Document number. Fiscal Year. Company Code.
Tacit knowledge
Document unique
Document numbers
Payment is too high or low
41. The purpose of __________: Audit Trail. Determines the type of document it is.
Phased-In Method of ERP Implementation
Invoice receipt tolerances
Solid implementation plan
Document numbers
42. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer
Structured collaboration
Information partnership
Audit scope and timeframe
Shadowing
43. 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
Messaging-based workflow system
Flexible configuration
Collaboration system
Automatic account assignments
44. An outline agreement
Document unique
Contracts
Workflow management system
Business Analysis Applications
45. Tells whether a transaction is a debit or credit and what G/L account is associated.
Balanced scorecard
Workflow
Invoice receipt tolerances
Posting keys
46. Posting periods in FF
Core Applications
Shadowing
Audit scope and timeframe
13
47. Price Variance. Maximum cash discount variance.
Phased-In Method of ERP Implementation
Oracle
Material master
Purchasing tolerances
48. Supports team interactions
Internal business process
Instantaneously
Groupware
Proper business analysis
49. Includes what management systems: document MS - digital asset MS - web content MS
CMS marketplace
XML (eXtensible Markup Language)
Instantaneously
Structured collaboration
50. The purpose of the ________ for account postings: A tolerance group sets limits for end users (such as dollar limits on transactions)
Information partnership
Material master records
Tolerance group
Core Applications