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. Supports team interactions






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






3. 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






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






5. 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






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






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






8. Sends work assignments through an e-mail system






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






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






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






12. 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






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






14. Participation in business processes - such as workflow






15. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






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






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






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






20. For what reasons might a company refuse payment of an invoice from a vendor: It might be refused because the _____________ - the quantity of the shipment is too high or too low - could be a damaged good - a wrong good - or may have arrived before or






21. 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.






22. 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






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






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






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






26. A meta-language for describing markup languages






27. The types of contracts: Quantity Contract - ___________






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






29. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






31. Manages the transportation and storage of goods






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






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






34. 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.






35. Facilitates the automation and management of business processes and controls the movement of work through the business process






36. 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






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






38. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






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






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






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






44. 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






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






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






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






48. 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






49. 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






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