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






2. Manages the transportation and storage of goods






3. 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






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






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






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






7. 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






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






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






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






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






12. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






13. Sends work assignments through an e-mail system






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






15. An outline agreement






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






17. 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






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






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






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






21. Track logistics movement of goods.






22. 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






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






24. 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






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






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






27. 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.






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






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






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






31. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






33. 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






34. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






35. ncorrect taxonomy results in invalid mapping that may cause material misrepresentation of financial data






36. 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






37. Posting periods in FF






38. 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.






39. Price Variance. Maximum cash discount variance.






40. The key ________ issues: Employee resistance - retraining and reorientation - more data collection screens required - lack of qualified personnel - security - and employee retention






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






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






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






44. 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






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






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






47. You have created a vendor master. This vendor be shared at ________






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






49. 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






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