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Test your basic knowledge |
ERP: Enterprise Resource Planning
Start Test
Study First
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. You have created a material master. This material be shared at _________
Proper business analysis
Knowledge management systems (KMS)
Plant level
Valuation Grouping code
2. Provides tools to manage the creation - storage - editing - and publication of information in a collaborative environment
Workflow
Content management system
ERP PROCESS
CMS marketplace
3. Where the purchasing tolerances - goods receipt tolerances - and invoice receipt tolerances all are passed.
Unstructured collaboration
XBRL (eXtensible Business Reporting System)
3 way match
Purchasing tolerances
4. 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
Big Bang Method of ERP implementation
Taxonomy Creation
Payment is too high or low
Audit scope and timeframe
5. 2 categories of collaboration systems: __________ - structured/process
Data warehouse
Unstructured/information
Invoice receipt tolerances
Groupware
6. 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
Workflow
Business Analysis Applications
Document types
Payment terms
7. The steps to completing the ___________: Vendor/Expense account exists - process invoice receipt - and then pay.
Monthly rent payment
Procurement process
Enterprise Resource System (ERP) Software
Shadowing
8. 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.
Tacit knowledge
General ledger accounts
Audit scope and timeframe
ERP PEOPLE
9. ncorrect taxonomy results in invalid mapping that may cause material misrepresentation of financial data
Taxonomy Creation
Information partnership
Posting keys
Custom made
10. 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
Balanced scorecard
Key Business Exposures
Optimize business performance
Default
11. Tell us who is responsible for the document and when it was created.
Document principles
Default
Internal control issues
Explicit knowledge
12. The purpose of the ________ for account postings: A tolerance group sets limits for end users (such as dollar limits on transactions)
Valuation Grouping code
Tolerance group
Invoice receipt tolerances
Automatic account assignments
13. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans
Instance documents
Proper business analysis
Unstructured/information
Plant level
14. An outline agreement
Plant level
Extended ERP components
Contracts
Tacit knowledge
15. 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
Flexible configuration
Organizational standardization
Posting periods
Collaboration system
16. Document exchange - shared whiteboards - discussion forums - email
ERP PEOPLE
13
Unstructured collaboration
Quality Contract
17. 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
Internal business process
RFQ
Big Bang Method of ERP implementation
Balanced scorecard
18. 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
Audit scope and timeframe
Enterprise Resource System (ERP) Software
Material master records
Segregation of duties
19. The Key _____________ issues: There are many high costs - maintenance requirements (upgrades and compatability) - extensive reorganization of the company
Dozen
Company code level
ERP PROCESS
SAP (Systems - Applications - and Products)
20. Supports team interactions
Workflow
Shadowing
Groupware
Monthly rent payment
21. Facilitates the automation and management of business processes and controls the movement of work through the business process
Workflow management system
Shadowing
Knowledge management systems (KMS)
Social networking analysis
22. Includes what management systems: document MS - digital asset MS - web content MS
Explicit knowledge
CMS marketplace
Document principles
RFQ
23. ____________________ categoriesKnowledge repositories (databases) - expertise tools - e-learning applications - discussion and chat technologies - search and data mining tools
Quality Contract
Posting keys
Knowledge management systems (KMS)
Optimize business performance
24. A meta-language for describing markup languages
Big Bang Method of ERP implementation
Document unique
Segregation of duties
XML (eXtensible Markup Language)
25. What components are needed to ____________: A vendor - an insurance expense account - amount of payment.
SAP (Systems - Applications - and Products)
Valuation Grouping code
Default
Process insurance expense
26. 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
Invoice receipt tolerances
3 way match
RFQ
CMS marketplace
27. Events consisting of large numbers of relatively simple transactions such as updating accounting records that are stored in several related tables
Core Applications
Online transaction processing (OLTP)
Information partnership
Document types
28. Tells whether a transaction is a debit or credit and what G/L account is associated.
Posting keys
Enterprise Resource System (ERP) Software
Internal business process
CRM
29. Validation of ________ - ensure that appropriate taxonomy and tags have been applied
Instance documents
Audit scope and timeframe
CRM
Hypertext
30. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial
Workflow management system
Internal business process
Tacit knowledge
Material master records
31. Impact on auditor responsibility as a consequence of real-time distribution of financial statements
Audit scope and timeframe
Workflow management system
Valuation Grouping code
Core ERP components
32. All the steps or business rules - from beginning to end - required for a business process
Shadowing
Workflow
Quality Contract
Key Business Exposures
33. Approach for implementing ERP systems in a phased manner; a popular alternative to the Big Bang method
Document numbers
Quotation
Phased-In Method of ERP Implementation
Dozen
34. Database constructed for quick searching - retrieval - ad hoc queries - and ease of use
Knowledge management
CRM
Document unique
Data warehouse
35. The two main ERP applications: Core Applications and ___________
Content management system
SAP (Systems - Applications - and Products)
Business Analysis Applications
Optimize business performance
36. The components to setup automatic account assignments: Chart of Accounts - Transaction key - _____________ - Modifier of Transaction Key - Valuation Class
SAP (Systems - Applications - and Products)
Valuation Grouping code
Document numbers
Material master records
37. A system that integrates all departments and functions across an organization into a single computer system; helps facilitate communications among departments
Enterprise Resource System (ERP) Software
Internal control issues
Shadowing
Custom made
38. Request for quotation
Organizational standardization
Solid implementation plan
Core Applications
RFQ
39. A document that tells us prices - materials - a specified time for a price - a formal agreement. (an informal agreement is an inquiry)
Quotation
Hypertext
Social networking analysis
Internal control issues
40. Includes support for multicountry - multicurrency environments and wide scalability
Proper business analysis
Business Analysis Applications
SAP (Systems - Applications - and Products)
SAP R/3
41. Sends work assignments through an e-mail system
Core competency
Messaging-based workflow system
Knowledge management
Elogistics
42. A _____ is needed to monitor the quality - objectives - and timelines
13
Material master
Solid implementation plan
Dozen
43. 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
Flexible configuration
Custom made
Taxonomy Creation
Business Analysis Applications
44. Enables organizations to clarify their vision and strategy and translate them into action
Valuation Grouping code
Plant level
Core Applications
Balanced scorecard
45. 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
Valuation Grouping code
Dozen
Core Applications
Material master records
46. An XML base language for standardizing methods for preparing - publishing - and exchanging financial information
XBRL (eXtensible Business Reporting System)
Internal control issues
Key Business Exposures
Oracle
47. 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
Posting periods
CMS marketplace
Workflow management system
Database-based workflow system
48. To share ____________: One person creates the material number - Everyone the recreates the material using the same number and add their plant information to it.
Payment terms
Material master records
Posting keys
Contracts
49. An organization's key strength - the business function that it does better than any of its competitors
Valuation Grouping code
Elogistics
Monthly rent payment
Core competency
50. The global leader with 30 to 60% of the ERP market
Purchasing tolerances
SAP (Systems - Applications - and Products)
Posting periods
Knowledge management systems (KMS)