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. Request for quotation






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






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






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






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






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






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






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






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






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






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






12. 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






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






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






16. 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






17. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






20. The types of contracts: Quantity Contract - ___________






21. Track logistics movement of goods.






22. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






24. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






27. Price Variance. Maximum cash discount variance.






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






29. 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.






30. An outline agreement






31. Participation in business processes - such as workflow






32. A meta-language for describing markup languages






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






34. 2 categories of collaboration systems: __________ - structured/process






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






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






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






38. 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






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






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






41. 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






42. You have created a material master. This material be shared at _________






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






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






45. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






46. The second largest ERP vendor






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






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






49. 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






50. 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