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






2. 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






3. 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






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






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






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






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






8. 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.






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






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






11. 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






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






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






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






15. 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






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






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






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






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






20. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






23. 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






24. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






26. 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.






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






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






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






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






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






32. Participation in business processes - such as workflow






33. 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






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






35. 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






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






37. 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






38. Track logistics movement of goods.






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






40. 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






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






42. The types of contracts: Quantity Contract - ___________






43. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






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






46. The primary reason for data warehousing is to _______________






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






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






49. 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






50. A meta-language for describing markup languages