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. 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






2. 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






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






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






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






6. The second largest ERP vendor






7. 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






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






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






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






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






12. Sends work assignments through an e-mail system






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






14. Supports team interactions






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






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






17. The types of contracts: Quantity Contract - ___________






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






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






20. Provides tools to manage the creation - storage - editing - and publication of information in a collaborative environment






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






22. Price Variance. Maximum cash discount variance.






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






24. 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






25. 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






26. Track logistics movement of goods.






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






28. An outline agreement






29. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






30. 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






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






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






33. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






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






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






38. 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.






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






40. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






41. A meta-language for describing markup languages






42. Anything that can be documented - archived - and codified - often with the help of IT






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






44. 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






45. Participation in business processes - such as workflow






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






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






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






49. 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






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