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. 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






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






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






4. A meta-language for describing markup languages






5. 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






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






7. 2 categories of collaboration systems: __________ - structured/process






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






9. Request for quotation






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






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






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






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






14. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






16. 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.






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






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






19. Manages the transportation and storage of goods






20. 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






21. 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






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






23. The second largest ERP vendor






24. 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






25. Track logistics movement of goods.






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






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






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






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






30. Participation in business processes - such as workflow






31. The types of contracts: Quantity Contract - ___________






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






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






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






35. Companies who purchase modules from ERP - SCM and ___ vendors must integrate the different modules together






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






37. An outline agreement






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






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






40. 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






41. Supports team interactions






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






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






44. The primary reason for data warehousing is to _______________






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






46. Sends work assignments through an e-mail system






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






48. 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






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






50. 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