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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. An XML base language for standardizing methods for preparing - publishing - and exchanging financial information
CMS marketplace
Explicit knowledge
XBRL (eXtensible Business Reporting System)
13
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
Process insurance expense
Big Bang Method of ERP implementation
Vendor master records
Segregation of duties
3. The steps to completing the ___________ process: Agreement - invoice - payment.
13
Unstructured/information
Document unique
Monthly rent payment
4. usiness intelligence - CRM - SCM - e-business
Dozen
Company code level
Extended ERP components
Structured collaboration
5. 2 categories of collaboration systems: __________ - structured/process
Taxonomy Creation
Posting keys
Unstructured/information
Messaging-based workflow system
6. Companies who purchase modules from ERP - SCM and ___ vendors must integrate the different modules together
CRM
Online transaction processing (OLTP)
Core ERP components
Document numbers
7. Manages the transportation and storage of goods
Elogistics
XBRL (eXtensible Business Reporting System)
ERP PEOPLE
Monthly rent expense
8. 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
CRM
Dozen
Enterprise Resource System (ERP) Software
Payment is too high or low
9. ncorrect taxonomy results in invalid mapping that may cause material misrepresentation of financial data
Online analytical processing (OLAP
Vendor master records
Taxonomy Creation
Monthly rent expense
10. To share ____________: One person creates the material number - Everyone the recreates the material using the same number and add their plant information to it.
Custom made
Business Analysis Applications
Optimize business performance
Material master records
11. You have created a material master. This material be shared at _________
Information partnership
Core ERP components
XBRL (eXtensible Business Reporting System)
Plant level
12. Validation of ________ - ensure that appropriate taxonomy and tags have been applied
Default
Unstructured collaboration
Instance documents
Messaging-based workflow system
13. Database constructed for quick searching - retrieval - ad hoc queries - and ease of use
Quotation
ERP TECHNOLOGY
Online transaction processing (OLTP)
Data warehouse
14. How can tolerance groups be categorized: They can be either _________ or special. Users must be assigned to special.
Structured collaboration
Collaboration system
Default
Unstructured collaboration
15. Components needed to process a ____________: Vendor - Rent Expense Account - Amount - Invoice - and agreement.
Monthly rent expense
Unstructured/information
Oracle
Internal control issues
16. Where the purchasing tolerances - goods receipt tolerances - and invoice receipt tolerances all are passed.
Data warehouse
3 way match
Purchasing tolerances
Explicit knowledge
17. he financial periods that are posted for reporting purposes - internal and external.
Explicit knowledge
Posting periods
Core ERP components
Unstructured/information
18. Facilitates the automation and management of business processes and controls the movement of work through the business process
Workflow management system
Solid implementation plan
Phased-In Method of ERP Implementation
Structured collaboration
19. The global leader with 30 to 60% of the ERP market
3 way match
Content management system
Material master records
SAP (Systems - Applications - and Products)
20. Categories of intellectual and knowledge-based categories: explicit knowledge and _____________
Document types
Tacit knowledge
Online analytical processing (OLAP
Contracts
21. Impact on auditor responsibility as a consequence of real-time distribution of financial statements
Workflow management system
Tacit knowledge
CMS marketplace
Audit scope and timeframe
22. Tell us who is responsible for the document and when it was created.
Enterprise Resource System (ERP) Software
Document principles
Unstructured collaboration
Oracle
23. A meta-language for describing markup languages
Optimize business performance
Audit scope and timeframe
Company code level
XML (eXtensible Markup Language)
24. Enables organizations to clarify their vision and strategy and translate them into action
Core ERP components
Phased-In Method of ERP Implementation
Balanced scorecard
Internal control issues
25. Provides tools to manage the creation - storage - editing - and publication of information in a collaborative environment
Content management system
XML (eXtensible Markup Language)
Material master
Business Analysis Applications
26. The primary reason for data warehousing is to _______________
Instance documents
Optimize business performance
Core Applications
Payment terms
27. ____________________ categoriesKnowledge repositories (databases) - expertise tools - e-learning applications - discussion and chat technologies - search and data mining tools
Vendor master records
Shadowing
XML (eXtensible Markup Language)
Knowledge management systems (KMS)
28. Approach for implementing ERP systems in a phased manner; a popular alternative to the Big Bang method
Workflow
Custom made
Phased-In Method of ERP Implementation
Explicit knowledge
29. 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
Process insurance expense
Company code level
Data warehouse
Payment is too high or low
30. 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
Big Bang Method of ERP implementation
Solid implementation plan
Segregation of duties
Peoplesoft
31. To share ________: One person creates the vendor number. - Everyone then recreates the vendor with the same number and their company code.
Internal control issues
Procurement process
Vendor master records
Default
32. The second largest ERP vendor
Segregation of duties
Oracle
Monthly rent payment
Automatic account assignments
33. 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
Plant level
Data warehouse
Business Analysis Applications
ERP TECHNOLOGY
34. Track logistics movement of goods.
Automatic account assignments
CMS marketplace
Social networking analysis
Phased-In Method of ERP Implementation
35. 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
Social networking analysis
Purchasing tolerances
36. A process of mapping a group's contacts to identify who knows whom and who works with whom
Internal business process
Online analytical processing (OLAP
Social networking analysis
Document types
37. 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
ERP PEOPLE
Instantaneously
Purchasing tolerances
Online analytical processing (OLAP
38. The Key _____________ issues: There are many high costs - maintenance requirements (upgrades and compatability) - extensive reorganization of the company
3 way match
SAP (Systems - Applications - and Products)
ERP PROCESS
Groupware
39. Events consisting of large numbers of relatively simple transactions such as updating accounting records that are stored in several related tables
Document types
ERP PEOPLE
Social networking analysis
Online transaction processing (OLTP)
40. The components to setup automatic account assignments: Chart of Accounts - Transaction key - _____________ - Modifier of Transaction Key - Valuation Class
Taxonomy Creation
Valuation Grouping code
Unstructured/information
Instantaneously
41. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______
Audit scope and timeframe
Material master records
Custom made
Payment terms
42. Request for quotation
SAP R/3
RFQ
Document numbers
Core Applications
43. 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
Online transaction processing (OLTP)
Core ERP components
Key Business Exposures
Payment terms
44. Participation in business processes - such as workflow
Database-based workflow system
Structured collaboration
Monthly rent payment
Material master records
45. 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
Organizational standardization
Document types
SAP R/3
Custom made
46. You have created a vendor master. This vendor be shared at ________
SAP (Systems - Applications - and Products)
Company code level
Internal control issues
Collaboration system
47. 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
Key Business Exposures
Posting keys
Invoice receipt tolerances
Hypertext
48. 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.
Quotation
Peoplesoft
General ledger accounts
Core Applications
49. Tells whether a transaction is a debit or credit and what G/L account is associated.
Vendor master records
Document principles
Key Business Exposures
Posting keys
50. Supports team interactions
Default
Peoplesoft
Groupware
Workflow management system