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Test your basic knowledge |
ERP: Enterprise Resource Planning
Start Test
Study First
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. Supports the work of teams by facilitating the sharing and flow of information
Online analytical processing (OLAP
Collaboration system
Tacit knowledge
Quotation
2. You have created a vendor master. This vendor be shared at ________
Posting periods
Taxonomy Creation
Company code level
Hypertext
3. 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
Structured collaboration
Big Bang Method of ERP implementation
Procurement process
Key Business Exposures
4. he financial periods that are posted for reporting purposes - internal and external.
Document unique
Monthly rent expense
Posting periods
Posting keys
5. The types of contracts: Quantity Contract - ___________
XML (eXtensible Markup Language)
Quality Contract
Shadowing
Online transaction processing (OLTP)
6. The components to setup automatic account assignments: Chart of Accounts - Transaction key - _____________ - Modifier of Transaction Key - Valuation Class
Valuation Grouping code
Groupware
Hypertext
13
7. How can tolerance groups be categorized: They can be either _________ or special. Users must be assigned to special.
Document unique
Tacit knowledge
Messaging-based workflow system
Default
8. The Key _____________ issues: There are many high costs - maintenance requirements (upgrades and compatability) - extensive reorganization of the company
ERP PROCESS
Balanced scorecard
Phased-In Method of ERP Implementation
Big Bang Method of ERP implementation
9. The second largest ERP vendor
Oracle
Segregation of duties
Information partnership
Posting periods
10. Companies who purchase modules from ERP - SCM and ___ vendors must integrate the different modules together
Default
Peoplesoft
Instance documents
CRM
11. A system that integrates all departments and functions across an organization into a single computer system; helps facilitate communications among departments
Instantaneously
Contracts
Enterprise Resource System (ERP) Software
Document unique
12. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______
Purchasing tolerances
Default
Custom made
Instance documents
13. 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
Dozen
ERP TECHNOLOGY
Posting periods
Instance documents
14. 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
XML (eXtensible Markup Language)
Structured collaboration
Payment is too high or low
Custom made
15. An XML base language for standardizing methods for preparing - publishing - and exchanging financial information
XBRL (eXtensible Business Reporting System)
Document numbers
Core ERP components
Explicit knowledge
16. The purpose of __________: Audit Trail. Determines the type of document it is.
Document numbers
Tolerance group
Optimize business performance
Online transaction processing (OLTP)
17. Account and finance - production and materials management - human resource
Solid implementation plan
13
Core ERP components
Payment terms
18. ncorrect taxonomy results in invalid mapping that may cause material misrepresentation of financial data
Invoice receipt tolerances
Taxonomy Creation
RFQ
Hypertext
19. Anything that can be documented - archived - and codified - often with the help of IT
Elogistics
Social networking analysis
Explicit knowledge
Valuation Grouping code
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.
Payment terms
Core Applications
ERP PROCESS
Plant level
21. ____________________ categoriesKnowledge repositories (databases) - expertise tools - e-learning applications - discussion and chat technologies - search and data mining tools
Social networking analysis
Procurement process
Proper business analysis
Knowledge management systems (KMS)
22. A document that tells us prices - materials - a specified time for a price - a formal agreement. (an informal agreement is an inquiry)
Key Business Exposures
Quotation
Extended ERP components
Document principles
23. Categories of intellectual and knowledge-based categories: explicit knowledge and _____________
Tacit knowledge
Collaboration system
ERP PEOPLE
Posting periods
24. Provides tools to manage the creation - storage - editing - and publication of information in a collaborative environment
Unstructured collaboration
Monthly rent expense
Segregation of duties
Content management system
25. 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.
General ledger accounts
Segregation of duties
Business Analysis Applications
Collaboration system
26. 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
Automatic account assignments
Posting keys
Internal control issues
Tolerance group
27. The steps to completing the ___________: Vendor/Expense account exists - process invoice receipt - and then pay.
Dozen
Document types
Procurement process
Social networking analysis
28. The primary reason for data warehousing is to _______________
Tacit knowledge
Balanced scorecard
Optimize business performance
XBRL (eXtensible Business Reporting System)
29. All the steps or business rules - from beginning to end - required for a business process
Balanced scorecard
ERP PEOPLE
Business Analysis Applications
Workflow
30. Approach for implementing ERP systems in a phased manner; a popular alternative to the Big Bang method
Phased-In Method of ERP Implementation
Procurement process
Document types
Instance documents
31. The steps to completing the ___________ process: Agreement - invoice - payment.
Document numbers
Document principles
Monthly rent payment
Knowledge management systems (KMS)
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
Core Applications
Tolerance group
Default
Procurement process
33. Price Variance. Maximum cash discount variance.
Purchasing tolerances
Solid implementation plan
Extended ERP components
Internal business process
34. You have created a material master. This material be shared at _________
Vendor master records
Shadowing
Plant level
13
35. Impact on auditor responsibility as a consequence of real-time distribution of financial statements
Big Bang Method of ERP implementation
Dozen
Audit scope and timeframe
Explicit knowledge
36. Validation of ________ - ensure that appropriate taxonomy and tags have been applied
Database-based workflow system
Material master
Process insurance expense
Instance documents
37. Events consisting of large numbers of relatively simple transactions such as updating accounting records that are stored in several related tables
Online transaction processing (OLTP)
Proper business analysis
Segregation of duties
Enterprise Resource System (ERP) Software
38. 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
XBRL (eXtensible Business Reporting System)
13
Document types
Dozen
39. A meta-language for describing markup languages
Quality Contract
XML (eXtensible Markup Language)
Phased-In Method of ERP Implementation
Material master records
40. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer
Vendor master records
Shadowing
Quotation
Information partnership
41. Facilitates the automation and management of business processes and controls the movement of work through the business process
Workflow management system
Core competency
Data warehouse
13
42. Purchased by Oracle - Strength in HR management - Widely used in the federal government
ERP PEOPLE
Quality Contract
Key Business Exposures
Peoplesoft
43. To share ____________: One person creates the material number - Everyone the recreates the material using the same number and add their plant information to it.
Material master records
Organizational standardization
Online transaction processing (OLTP)
Tolerance group
44. 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
Solid implementation plan
Segregation of duties
Collaboration system
Unstructured/information
45. Three things make a _________: Document number. Fiscal Year. Company Code.
Process insurance expense
Document unique
Explicit knowledge
ERP TECHNOLOGY
46. Capturing - classifying - evaluating - retrieving - and sharing information assets that provides context for effective decisions and actions
Knowledge management
Information partnership
Document principles
Taxonomy Creation
47. The purpose of the ________ for account postings: A tolerance group sets limits for end users (such as dollar limits on transactions)
Database-based workflow system
Social networking analysis
Tolerance group
Procurement process
48. Tells whether a transaction is a debit or credit and what G/L account is associated.
Oracle
Posting keys
Document principles
Vendor master records
49. Database constructed for quick searching - retrieval - ad hoc queries - and ease of use
Hypertext
Data warehouse
Posting keys
Core ERP components
50. 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
Payment terms
Invoice receipt tolerances
Instantaneously
Monthly rent expense