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






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






3. 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






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






5. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






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






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






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






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






12. Price Variance. Maximum cash discount variance.






13. Stores documents in a central location and automatically asks the team members to access the document when it is their turn to edit the document






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






15. Participation in business processes - such as workflow






16. 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






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






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






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






20. Posting periods in FF






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






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






23. Manages the transportation and storage of goods






24. 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






25. The second largest ERP vendor






26. An outline agreement






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






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






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






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






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






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






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






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






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






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






38. The primary reason for data warehousing is to _______________






39. 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.






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






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






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






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






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






45. 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.






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






47. Request for quotation






48. 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






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






50. Track logistics movement of goods.