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. Purchased by Oracle - Strength in HR management - Widely used in the federal government






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






3. 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






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






5. 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






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






7. The purpose of __________: Audit Trail. Determines the type of document it is.






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






9. 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






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






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






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






13. 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






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






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






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






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






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






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






20. 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






21. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






23. The primary reason for data warehousing is to _______________






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






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






26. 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






27. 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.






28. 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






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






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






31. Sends work assignments through an e-mail system






32. 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






33. 2 categories of collaboration systems: __________ - structured/process






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






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






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






38. Manages the transportation and storage of goods






39. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






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






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






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






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






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






46. Participation in business processes - such as workflow






47. 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






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






49. Posting periods in FF






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