Test your basic knowledge |

ERP: Enterprise Resource Planning

Subject : it-skills
  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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. 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

2. Track logistics movement of goods.

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

4. The second largest ERP vendor

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

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

7. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans

8. Sends work assignments through an e-mail system

9. 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

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

11. An outline agreement

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

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

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

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

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

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

18. 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

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

20. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial

21. The primary reason for data warehousing is to _______________

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

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

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

25. Supports team interactions

26. 2 categories of collaboration systems: __________ - structured/process

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

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

29. Approach for implementing ERP systems in a phased manner; a popular alternative to the Big Bang method

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

31. 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

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

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

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

35. Posting periods in FF

36. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer

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

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

39. 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

40. 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

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

42. The types of contracts: Quantity Contract - ___________

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

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

45. Request for quotation

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

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

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

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

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