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






2. 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






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






4. usiness intelligence - CRM - SCM - e-business






5. 2 categories of collaboration systems: __________ - structured/process






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






7. Manages the transportation and storage of goods






8. 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






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






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






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






12. Validation of ________ - ensure that appropriate taxonomy and tags have been applied






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






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






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






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






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






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






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






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






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






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






23. A meta-language for describing markup languages






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






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






26. The primary reason for data warehousing is to _______________






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






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






29. 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






30. 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






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






32. The second largest ERP vendor






33. 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






34. Track logistics movement of goods.






35. 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.






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






37. 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






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






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






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






41. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






42. Request for quotation






43. 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






44. Participation in business processes - such as workflow






45. 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






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






47. 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






48. 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.






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






50. Supports team interactions