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






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






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






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






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






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






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






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. Posting periods in FF






10. Request for quotation






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






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






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






14. 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






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






16. 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






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






18. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






21. The types of contracts: Quantity Contract - ___________






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






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






24. 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






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






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






27. 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






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






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






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






31. 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






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






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






35. The steps to completing the ___________ process: Agreement - invoice - payment.






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






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






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






39. 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






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






41. 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






42. 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






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






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






45. 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






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






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






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






49. Price Variance. Maximum cash discount variance.






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