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. 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






2. 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






3. A system that integrates all departments and functions across an organization into a single computer system; helps facilitate communications among departments






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






5. 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.






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






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






8. Sends work assignments through an e-mail system






9. 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






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






11. 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






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






13. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






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






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






17. 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






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






20. 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






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






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






23. 2 categories of collaboration systems: __________ - structured/process






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






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






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






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






28. 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






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






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






31. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






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






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






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






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






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






39. Participation in business processes - such as workflow






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






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






42. Track logistics movement of goods.






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






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






45. 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






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






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






48. 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.






49. 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






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







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