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






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






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






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






5. 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






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






7. 2 categories of collaboration systems: __________ - structured/process






8. Posting periods in FF






9. 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






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






11. Database constructed for quick searching - retrieval - ad hoc queries - and ease of use






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






13. Tell us who is responsible for the document and when it was created.






14. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






15. The primary reason for data warehousing is to _______________






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






17. 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






18. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






19. 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






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






21. 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






22. Manages the transportation and storage of goods






23. Track logistics movement of goods.






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






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






26. Supports team interactions






27. 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






28. Price Variance. Maximum cash discount variance.






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






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






31. 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






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






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






34. 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






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






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






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






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






39. Purchased by Oracle - Strength in HR management - Widely used in the federal government






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






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






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






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






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. 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






47. 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.






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






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






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