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






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






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






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






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






6. Request for quotation






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






8. The primary reason for data warehousing is to _______________






9. 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.






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






11. 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






12. 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






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






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






15. An outline agreement






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






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






18. 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






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






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






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






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






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






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






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






27. The types of contracts: Quantity Contract - ___________






28. Supports team interactions






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






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






31. 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






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






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






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






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






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






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






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






39. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






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






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






43. A meta-language for describing markup languages






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






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






46. 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






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






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






50. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial