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






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






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






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






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






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






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






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






11. 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






12. Track logistics movement of goods.






13. Sends work assignments through an e-mail system






14. 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






15. Price Variance. Maximum cash discount variance.






16. 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






17. 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






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






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






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






21. 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






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






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






24. The types of contracts: Quantity Contract - ___________






25. Participation in business processes - such as workflow






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






27. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






28. The primary reason for data warehousing is to _______________






29. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






31. 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






32. If a shared material is purchased by one "company" in dozens and purchased by another "company" in cases (equal to 10 dozen) - the ______ base unit of measure would be used on the Purchasing tab






33. Request for quotation






34. To share ____________: One person creates the material number - Everyone the recreates the material using the same number and add their plant information to it.






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






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






37. An outline agreement






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






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






40. 2 categories of collaboration systems: __________ - structured/process






41. Supports team interactions






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






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






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






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






46. 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.






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






48. Manages the transportation and storage of goods






49. Posting periods in FF






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