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. The types of contracts: Quantity Contract - ___________






2. Sends work assignments through an e-mail system






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






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






5. 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






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






7. 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






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






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






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






11. Price Variance. Maximum cash discount variance.






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






13. 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






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






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






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






17. 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






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






19. 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






20. 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






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






22. 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






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






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






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






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






27. 2 categories of collaboration systems: __________ - structured/process






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






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






30. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






31. 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






32. A meta-language for describing markup languages






33. Request for quotation






34. Supports team interactions






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






36. Posting periods in FF






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






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






39. 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






40. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






41. Manages the transportation and storage of goods






42. Participation in business processes - such as workflow






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






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






45. 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






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






47. 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.






48. Events consisting of large numbers of relatively simple transactions such as updating accounting records that are stored in several related tables






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






50. 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.