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. 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






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






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






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






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






6. 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






7. 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






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






9. 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






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






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






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






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






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






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






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






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






18. 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.






19. 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






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






21. 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






22. 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






23. The second largest ERP vendor






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






25. Participation in business processes - such as workflow






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






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






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






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






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






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






32. 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






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






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






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






36. The types of contracts: Quantity Contract - ___________






37. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






39. 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






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






41. 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






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






43. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






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






46. Sends work assignments through an e-mail system






47. An outline agreement






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






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






50. 2 categories of collaboration systems: __________ - structured/process






Can you answer 50 questions in 15 minutes?



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