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






2. 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






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






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






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






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






7. 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






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






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






10. 2 categories of collaboration systems: __________ - structured/process






11. Participation in business processes - such as workflow






12. 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






13. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






14. ____________________ categoriesKnowledge repositories (databases) - expertise tools - e-learning applications - discussion and chat technologies - search and data mining tools






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






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






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






18. 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






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






20. Price Variance. Maximum cash discount variance.






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






22. Enterprise resource planning tool used to supply management with real time information. it also permits timely decisions that are needed to improve performance and achieve a competitive advantage






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






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






25. 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






26. 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






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






28. 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






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






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






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






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






33. Posting periods in FF






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






35. The second largest ERP vendor






36. The types of contracts: Quantity Contract - ___________






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






38. 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






39. Supports team interactions






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






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






42. 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






43. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






44. A meta-language for describing markup languages






45. An outline agreement






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






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






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






49. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






50. 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







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Can you answer 50 questions in 15 minutes?


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