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






2. 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






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






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






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






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






7. 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






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






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






10. A meta-language for describing markup languages






11. Document exchange - shared whiteboards - discussion forums - email






12. Posting periods in FF






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






14. 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






15. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






16. An outline agreement






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






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






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






21. 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






22. 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






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






24. Participation in business processes - such as workflow






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






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






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






28. 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






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






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






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






32. The key _______ issued: 1) difficulty of migration from legacy systems to ERP database - 2) lack of interoperability among different vendors - 3)and continual maintenance requirements






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






34. Manages the transportation and storage of goods






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






36. 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.






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






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






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






40. 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






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






42. 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






43. Sends work assignments through an e-mail system






44. The primary reason for data warehousing is to _______________






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






46. 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.






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






48. The Key _____________ issues: There are many high costs - maintenance requirements (upgrades and compatability) - extensive reorganization of the company






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






50. 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