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. 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






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






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






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






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






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






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






8. 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






9. 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






10. Where the purchasing tolerances - goods receipt tolerances - and invoice receipt tolerances all are passed.






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






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






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






14. What components are needed to ____________: A vendor - an insurance expense account - amount of payment.






15. A meta-language for describing markup languages






16. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






18. 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






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






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






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






22. The second largest ERP vendor






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






24. All the steps or business rules - from beginning to end - required for a business process






25. 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






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






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






28. An outline agreement






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






30. Posting periods in FF






31. 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






32. 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






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






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






35. Manages the transportation and storage of goods






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. Participation in business processes - such as workflow






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






40. 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






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






42. 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






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






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






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






46. The types of contracts: Quantity Contract - ___________






47. 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






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






49. 2 categories of collaboration systems: __________ - structured/process






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