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






2. Includes support for multicountry - multicurrency environments and wide scalability






3. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






4. 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.






5. Sends work assignments through an e-mail system






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






7. 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.






8. The types of contracts: Quantity Contract - ___________






9. 2 categories of collaboration systems: __________ - structured/process






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






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






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






13. Decision support tool for management critical tasks through analytical investigation of complex data associations - supplies management with real-time info - takes information and converts it to data to make useful






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






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






16. The two main ERP applications: Core Applications and ___________






17. 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






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






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






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






21. 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






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






23. 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






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






25. Links to other documents on the Web and enables the reader to jump to another document located anywhere on the World Wide Web






26. Price Variance. Maximum cash discount variance.






27. Track logistics movement of goods.






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






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






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






31. 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






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






33. The primary reason for data warehousing is to _______________






34. 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






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






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






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






38. Supports team interactions






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






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






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






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






44. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






45. 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






46. 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






47. How can tolerance groups be categorized: They can be either _________ or special. Users must be assigned to special.






48. Manages the transportation and storage of goods






49. An outline agreement






50. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______