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






2. 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






3. Track logistics movement of goods.






4. A process of mapping a group's contacts to identify who knows whom and who works with whom






5. 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






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






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






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






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






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






11. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






13. Sends work assignments through an e-mail system






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






15. 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.






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






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






18. The types of contracts: Quantity Contract - ___________






19. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






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






23. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






24. Participation in business processes - such as workflow






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






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






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






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






29. A meta-language for describing markup languages






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






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. Manages the transportation and storage of goods






33. 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






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






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






36. 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






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






38. Posting periods in FF






39. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






40. Price Variance. Maximum cash discount variance.






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






42. Request for quotation






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






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






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






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






47. 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






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






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






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