Test your basic knowledge |

ERP: Enterprise Resource Planning

Subject : it-skills
  • Answer 50 questions in 15 minutes.
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  • 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. 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

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

3. 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

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

5. An outline agreement

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

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

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

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

11. 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

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

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

15. Price Variance. Maximum cash discount variance.

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

17. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______

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

19. The types of contracts: Quantity Contract - ___________

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

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

22. 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

23. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans

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

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

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

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

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

29. A meta-language for describing markup languages

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

31. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer

32. 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

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

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

35. The second largest ERP vendor

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

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

38. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial

39. 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

40. 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

41. 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

42. The primary reason for data warehousing is to _______________

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

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

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

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

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

48. Track logistics movement of goods.

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

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