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






2. 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






3. Participation in business processes - such as workflow






4. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






5. 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






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






7. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






8. 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






9. 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






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






11. Sends work assignments through an e-mail system






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






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






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






15. An outline agreement






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






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






18. 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






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






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






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






22. 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






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






24. 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






25. 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






26. 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






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






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






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






30. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






32. 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






33. The primary reason for data warehousing is to _______________






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






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






36. 2 categories of collaboration systems: __________ - structured/process






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






38. Request for quotation






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






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






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






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






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






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






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






46. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






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






50. Price Variance. Maximum cash discount variance.







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