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 material master. This material be shared at _________






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






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






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






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






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






7. 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.






8. 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






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






10. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






11. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






13. 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.






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






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






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






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






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






19. 2 categories of collaboration systems: __________ - structured/process






20. 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






21. 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






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






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






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






25. Enables organizations to clarify their vision and strategy and translate them into action






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. Participation in business processes - such as workflow






28. 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






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






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






31. 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






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






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






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






35. The types of contracts: Quantity Contract - ___________






36. A meta-language for describing markup languages






37. 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






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






39. 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






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






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






42. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






45. The primary reason for data warehousing is to _______________






46. 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






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






48. The second largest ERP vendor






49. 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






50. Includes support for multicountry - multicurrency environments and wide scalability