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






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






3. Manages the transportation and storage of goods






4. 2 categories of collaboration systems: __________ - structured/process






5. Posting periods in FF






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






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






8. 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






9. The types of contracts: Quantity Contract - ___________






10. 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






11. 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.






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






13. All the steps or business rules - from beginning to end - required for a business process






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






15. Best practices for transferring or recreating tacit knowledge: ___________ and joint problem solving






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






17. Track logistics movement of goods.






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






19. 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






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






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






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






23. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






24. Participation in business processes - such as workflow






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






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






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






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






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






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






32. 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






33. 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






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






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






36. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






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






40. Price Variance. Maximum cash discount variance.






41. Request for quotation






42. The primary reason for data warehousing is to _______________






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






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






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






46. An outline agreement






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






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






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






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