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Test your basic knowledge |
ERP: Enterprise Resource Planning
Start Test
Study First
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 purpose of __________: Audit Trail. Determines the type of document it is.
Key Business Exposures
Optimize business performance
Document numbers
Peoplesoft
2. Events consisting of large numbers of relatively simple transactions such as updating accounting records that are stored in several related tables
Hypertext
Online transaction processing (OLTP)
Shadowing
Organizational standardization
3. ncorrect taxonomy results in invalid mapping that may cause material misrepresentation of financial data
Process insurance expense
Quality Contract
Taxonomy Creation
Peoplesoft
4. 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
Extended ERP components
Instantaneously
XML (eXtensible Markup Language)
Segregation of duties
5. The global leader with 30 to 60% of the ERP market
3 way match
Unstructured/information
Flexible configuration
SAP (Systems - Applications - and Products)
6. 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
Payment terms
Workflow management system
Core Applications
Payment is too high or low
7. The Key _____________ issues: There are many high costs - maintenance requirements (upgrades and compatability) - extensive reorganization of the company
Valuation Grouping code
ERP PROCESS
Contracts
Organizational standardization
8. Participation in business processes - such as workflow
Peoplesoft
Content management system
Phased-In Method of ERP Implementation
Structured collaboration
9. Request for quotation
3 way match
Workflow
RFQ
13
10. Account and finance - production and materials management - human resource
Groupware
Oracle
Core ERP components
Posting periods
11. You have created a __________. This materialwould be shared at each (smallest unit possible to be considered for a material)
Company code level
Phased-In Method of ERP Implementation
ERP TECHNOLOGY
Material master
12. Companies who purchase modules from ERP - SCM and ___ vendors must integrate the different modules together
Core competency
CRM
Messaging-based workflow system
Document numbers
13. 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
Organizational standardization
RFQ
Business Analysis Applications
ERP PEOPLE
14. Document exchange - shared whiteboards - discussion forums - email
Posting keys
Core competency
Solid implementation plan
Unstructured collaboration
15. Impact on auditor responsibility as a consequence of real-time distribution of financial statements
Data warehouse
Shadowing
Oracle
Audit scope and timeframe
16. ____________________ categoriesKnowledge repositories (databases) - expertise tools - e-learning applications - discussion and chat technologies - search and data mining tools
Workflow management system
Knowledge management systems (KMS)
Core competency
Tolerance group
17. A meta-language for describing markup languages
3 way match
Document principles
Material master records
XML (eXtensible Markup Language)
18. An organization's key strength - the business function that it does better than any of its competitors
Invoice receipt tolerances
Monthly rent expense
Segregation of duties
Core competency
19. The second largest ERP vendor
Vendor master records
Oracle
XBRL (eXtensible Business Reporting System)
Internal business process
20. Validation of ________ - ensure that appropriate taxonomy and tags have been applied
Instance documents
Valuation Grouping code
Proper business analysis
Online analytical processing (OLAP
21. Categories of intellectual and knowledge-based categories: explicit knowledge and _____________
XBRL (eXtensible Business Reporting System)
Enterprise Resource System (ERP) Software
Material master
Tacit knowledge
22. What components are needed to ____________: A vendor - an insurance expense account - amount of payment.
13
Flexible configuration
Process insurance expense
Key Business Exposures
23. 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
Online analytical processing (OLAP
Posting periods
Contracts
Vendor master records
24. Includes what management systems: document MS - digital asset MS - web content MS
CMS marketplace
Solid implementation plan
Oracle
Hypertext
25. Price Variance. Maximum cash discount variance.
Document types
Material master
Purchasing tolerances
Organizational standardization
26. In ________ - D - R - K - and Z mean: D - Customer R - Invoice K - Vendor Z - Payment
Organizational standardization
Document types
Elogistics
Data warehouse
27. To share ____________: One person creates the material number - Everyone the recreates the material using the same number and add their plant information to it.
Peoplesoft
Plant level
Material master records
Social networking analysis
28. The two main ERP applications: Core Applications and ___________
Hypertext
Internal control issues
Procurement process
Business Analysis Applications
29. Approach for implementing ERP systems in a phased manner; a popular alternative to the Big Bang method
ERP TECHNOLOGY
Phased-In Method of ERP Implementation
Audit scope and timeframe
Internal business process
30. To share ________: One person creates the vendor number. - Everyone then recreates the vendor with the same number and their company code.
XBRL (eXtensible Business Reporting System)
Vendor master records
Optimize business performance
Monthly rent expense
31. he financial periods that are posted for reporting purposes - internal and external.
Posting periods
Document types
Business Analysis Applications
Data warehouse
32. The purpose of the ________ for account postings: A tolerance group sets limits for end users (such as dollar limits on transactions)
Dozen
Tolerance group
Document unique
Data warehouse
33. Sends work assignments through an e-mail system
Elogistics
Messaging-based workflow system
Extended ERP components
Collaboration system
34. All the steps or business rules - from beginning to end - required for a business process
Tacit knowledge
Workflow
SAP R/3
Core ERP components
35. Facilitates the automation and management of business processes and controls the movement of work through the business process
Workflow management system
Unstructured collaboration
CRM
Data warehouse
36. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial
Company code level
Taxonomy Creation
Knowledge management
Internal business process
37. 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.
Segregation of duties
Payment terms
Groupware
Information partnership
38. You have created a vendor master. This vendor be shared at ________
Company code level
Social networking analysis
Valuation Grouping code
Elogistics
39. 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
Hypertext
Collaboration system
Payment is too high or low
ERP TECHNOLOGY
40. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______
Custom made
Posting periods
Document principles
ERP PEOPLE
41. Purchased by Oracle - Strength in HR management - Widely used in the federal government
Peoplesoft
RFQ
Document principles
Audit scope and timeframe
42. Posting periods in FF
XBRL (eXtensible Business Reporting System)
Organizational standardization
Monthly rent payment
13
43. The types of contracts: Quantity Contract - ___________
Quality Contract
Online transaction processing (OLTP)
Internal business process
XML (eXtensible Markup Language)
44. Three things make a _________: Document number. Fiscal Year. Company Code.
Company code level
General ledger accounts
Document unique
Flexible configuration
45. 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
Core competency
Database-based workflow system
Information partnership
Invoice receipt tolerances
46. The key ________ issues: Employee resistance - retraining and reorientation - more data collection screens required - lack of qualified personnel - security - and employee retention
Solid implementation plan
Contracts
ERP PEOPLE
Hypertext
47. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans
XML (eXtensible Markup Language)
Audit scope and timeframe
Proper business analysis
13
48. Tell us who is responsible for the document and when it was created.
Unstructured collaboration
Segregation of duties
ERP PROCESS
Document principles
49. Enables organizations to clarify their vision and strategy and translate them into action
Default
Balanced scorecard
Valuation Grouping code
Messaging-based workflow system
50. 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.
Balanced scorecard
Hypertext
General ledger accounts
Payment is too high or low