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Test your basic knowledge |
ERP: Enterprise Resource Planning
Start Test
Study First
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. Facilitates the automation and management of business processes and controls the movement of work through the business process
Valuation Grouping code
Contracts
Workflow management system
XML (eXtensible Markup Language)
2. ncorrect taxonomy results in invalid mapping that may cause material misrepresentation of financial data
Taxonomy Creation
Material master records
Enterprise Resource System (ERP) Software
Material master
3. How can tolerance groups be categorized: They can be either _________ or special. Users must be assigned to special.
Vendor master records
Explicit knowledge
Valuation Grouping code
Default
4. 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
Quotation
Payment is too high or low
Plant level
Groupware
5. usiness intelligence - CRM - SCM - e-business
Extended ERP components
Phased-In Method of ERP Implementation
Structured collaboration
3 way match
6. 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
Knowledge management systems (KMS)
Material master records
Flexible configuration
Invoice receipt tolerances
7. Capturing - classifying - evaluating - retrieving - and sharing information assets that provides context for effective decisions and actions
Material master records
Knowledge management
Payment terms
Online transaction processing (OLTP)
8. 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
Big Bang Method of ERP implementation
Structured collaboration
Valuation Grouping code
Database-based workflow system
9. Manages the transportation and storage of goods
Elogistics
Internal control issues
3 way match
Knowledge management
10. Provides tools to manage the creation - storage - editing - and publication of information in a collaborative environment
Shadowing
Process insurance expense
13
Content management system
11. Participation in business processes - such as workflow
Unstructured/information
Core competency
Structured collaboration
Default
12. The purpose of the ________ for account postings: A tolerance group sets limits for end users (such as dollar limits on transactions)
Taxonomy Creation
Social networking analysis
Tolerance group
Vendor master records
13. Approach for implementing ERP systems in a phased manner; a popular alternative to the Big Bang method
Business Analysis Applications
Knowledge management systems (KMS)
Content management system
Phased-In Method of ERP Implementation
14. Purchased by Oracle - Strength in HR management - Widely used in the federal government
Proper business analysis
Oracle
Organizational standardization
Peoplesoft
15. 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
Organizational standardization
Business Analysis Applications
Database-based workflow system
Groupware
16. A _____ is needed to monitor the quality - objectives - and timelines
Purchasing tolerances
Oracle
Online transaction processing (OLTP)
Solid implementation plan
17. To share ________: One person creates the vendor number. - Everyone then recreates the vendor with the same number and their company code.
Posting keys
Procurement process
Phased-In Method of ERP Implementation
Vendor master records
18. A process of mapping a group's contacts to identify who knows whom and who works with whom
Material master records
Purchasing tolerances
Content management system
Social networking analysis
19. A system that integrates all departments and functions across an organization into a single computer system; helps facilitate communications among departments
Document principles
Structured collaboration
Big Bang Method of ERP implementation
Enterprise Resource System (ERP) Software
20. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer
Information partnership
Knowledge management systems (KMS)
Instantaneously
Company code level
21. 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.
General ledger accounts
Key Business Exposures
Core Applications
Shadowing
22. Where the purchasing tolerances - goods receipt tolerances - and invoice receipt tolerances all are passed.
XBRL (eXtensible Business Reporting System)
Internal business process
Core ERP components
3 way match
23. Track logistics movement of goods.
Internal business process
Business Analysis Applications
Knowledge management systems (KMS)
Automatic account assignments
24. 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
Internal control issues
Audit scope and timeframe
Online analytical processing (OLAP
CMS marketplace
25. 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
Core Applications
Information partnership
Plant level
Messaging-based workflow system
26. 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
Messaging-based workflow system
Collaboration system
Company code level
Invoice receipt tolerances
27. To share ____________: One person creates the material number - Everyone the recreates the material using the same number and add their plant information to it.
Payment is too high or low
Invoice receipt tolerances
CRM
Material master records
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
ERP PROCESS
Phased-In Method of ERP Implementation
Segregation of duties
Elogistics
29. 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
Online transaction processing (OLTP)
Document types
Dozen
Automatic account assignments
30. Anything that can be documented - archived - and codified - often with the help of IT
Explicit knowledge
Flexible configuration
Organizational standardization
Payment is too high or low
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
Content management system
Internal control issues
Business Analysis Applications
Vendor master records
32. You have created a __________. This materialwould be shared at each (smallest unit possible to be considered for a material)
Material master
Payment terms
Document types
Document numbers
33. Price Variance. Maximum cash discount variance.
Purchasing tolerances
Elogistics
Posting keys
Data warehouse
34. You have created a vendor master. This vendor be shared at ________
Posting periods
Core competency
Company code level
Collaboration system
35. The components to setup automatic account assignments: Chart of Accounts - Transaction key - _____________ - Modifier of Transaction Key - Valuation Class
SAP R/3
Valuation Grouping code
Automatic account assignments
Flexible configuration
36. An outline agreement
SAP R/3
Document unique
Contracts
Monthly rent payment
37. Sends work assignments through an e-mail system
Knowledge management
Key Business Exposures
Messaging-based workflow system
Shadowing
38. 2 categories of collaboration systems: __________ - structured/process
Big Bang Method of ERP implementation
Online transaction processing (OLTP)
Unstructured/information
Vendor master records
39. Request for quotation
Core competency
Workflow management system
RFQ
Phased-In Method of ERP Implementation
40. Tells whether a transaction is a debit or credit and what G/L account is associated.
Posting keys
Structured collaboration
Audit scope and timeframe
ERP PROCESS
41. The global leader with 30 to 60% of the ERP market
SAP (Systems - Applications - and Products)
Balanced scorecard
Valuation Grouping code
Phased-In Method of ERP Implementation
42. 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
Document types
Groupware
Instantaneously
Internal control issues
43. Supports team interactions
Balanced scorecard
Groupware
Enterprise Resource System (ERP) Software
Audit scope and timeframe
44. You have created a material master. This material be shared at _________
Process insurance expense
Core Applications
Plant level
ERP PEOPLE
45. All the steps or business rules - from beginning to end - required for a business process
Internal business process
Workflow
CRM
Organizational standardization
46. The two main ERP applications: Core Applications and ___________
Document principles
SAP (Systems - Applications - and Products)
Material master records
Business Analysis Applications
47. The steps to completing the ___________: Vendor/Expense account exists - process invoice receipt - and then pay.
Procurement process
Oracle
Online transaction processing (OLTP)
Document unique
48. Links to other documents on the Web and enables the reader to jump to another document located anywhere on the World Wide Web
Monthly rent expense
Hypertext
Custom made
Document numbers
49. The steps to completing the ___________ process: Agreement - invoice - payment.
Oracle
Monthly rent payment
Document principles
RFQ
50. Validation of ________ - ensure that appropriate taxonomy and tags have been applied
Instance documents
Tacit knowledge
Proper business analysis
Oracle