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






2. Request for quotation






3. 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






4. 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






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






6. 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






7. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






9. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






10. 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






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






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






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






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






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






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






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






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






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






20. 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.






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






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






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






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






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






26. 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






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






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






29. Price Variance. Maximum cash discount variance.






30. 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






31. 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.






32. Participation in business processes - such as workflow






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






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






35. Posting periods in FF






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






37. 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






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






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






40. 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






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






42. 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






43. The second largest ERP vendor






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






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






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






47. Sends work assignments through an e-mail system






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






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






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