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. 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






2. 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






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






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






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






6. Track logistics movement of goods.






7. Participation in business processes - such as workflow






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.






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






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






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






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






13. 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






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






15. 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.






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






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






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






19. Posting periods in FF






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






21. 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






22. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






23. Price Variance. Maximum cash discount variance.






24. The primary reason for data warehousing is to _______________






25. 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






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






27. Supports team interactions






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






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






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






31. Approach for implementing ERP systems in a phased manner; a popular alternative to the Big Bang method






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






33. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






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






36. 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






37. Sends work assignments through an e-mail system






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






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






42. 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






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






44. The key ________ issues: Employee resistance - retraining and reorientation - more data collection screens required - lack of qualified personnel - security - and employee retention






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






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






47. 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






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






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






50. The types of contracts: Quantity Contract - ___________







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