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






2. The primary reason for data warehousing is to _______________






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






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






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






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






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






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






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






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






11. 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






12. The second largest ERP vendor






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






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






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






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






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






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






19. What components are needed to ____________: A vendor - an insurance expense account - amount of payment.






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






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






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






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






24. 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






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






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






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






28. 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






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






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






31. 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






32. The types of contracts: Quantity Contract - ___________






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






34. 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.






35. Manages the transportation and storage of goods






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






37. A meta-language for describing markup languages






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






39. 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.






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






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






42. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






44. 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






45. Supports team interactions






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






47. Request for quotation






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






49. Price Variance. Maximum cash discount variance.






50. 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