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. 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






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






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






4. 2 categories of collaboration systems: __________ - structured/process






5. 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






6. An outline agreement






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






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






9. Track logistics movement of goods.






10. The second largest ERP vendor






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






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






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






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






15. 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






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






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






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






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






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






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






22. 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.






23. 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






24. Request for quotation






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






26. The primary reason for data warehousing is to _______________






27. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






28. 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






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






30. Price Variance. Maximum cash discount variance.






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






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






33. 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






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






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






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






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






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






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






40. 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






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






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






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






44. Supports team interactions






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






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






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






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






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






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