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






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






3. Price Variance. Maximum cash discount variance.






4. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






6. Supports team interactions






7. 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.






8. Participation in business processes - such as workflow






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






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






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






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






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






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






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






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






17. The key concerns when dealing with ___________________ related to ERP roles: 1) the creation of unnecessary roles 2) the rule of least access should apply to permission assignments and 3) monitor role creation and permission-granting activities






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






19. 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






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






21. Posting periods in FF






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






23. 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.






24. 2 categories of collaboration systems: __________ - structured/process






25. An outline agreement






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






27. 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






28. 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






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






30. 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






31. Request for quotation






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






33. Sends work assignments through an e-mail system






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






35. 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






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






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






38. 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






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






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






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






42. Supports the work of teams by facilitating the sharing and flow of information






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






44. The primary reason for data warehousing is to _______________






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. 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






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






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






49. Enterprise resource planning tool used to supply management with real time information. it also permits timely decisions that are needed to improve performance and achieve a competitive advantage






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