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






2. 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






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






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






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






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






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






8. 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






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






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






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






12. Supports team interactions






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






14. Participation in business processes - such as workflow






15. 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






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






17. A meta-language for describing markup languages






18. The types of contracts: Quantity Contract - ___________






19. 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






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






21. 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






22. 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






23. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






25. 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.






26. Posting periods in FF






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






28. The primary reason for data warehousing is to _______________






29. 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.






30. 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






31. Request for quotation






32. An outline agreement






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






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






35. 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






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






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






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






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






40. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






41. 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






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






43. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






44. 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






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






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






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






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






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






50. 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






Can you answer 50 questions in 15 minutes?



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