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.
  • 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 types of contracts: Quantity Contract - ___________

2. Participation in business processes - such as workflow

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

4. 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

5. An outline agreement

6. Sends work assignments through an e-mail system

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

8. 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

9. 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

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

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

12. 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

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

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

15. Price Variance. Maximum cash discount variance.

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

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

18. 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

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

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

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

22. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______

23. Supports team interactions

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

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

26. Manages the transportation and storage of goods

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

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

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

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

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

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

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

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

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

36. Request for quotation

37. 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

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

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

40. 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

41. 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

42. 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

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

44. 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

45. The key concerns when dealing with ___________________ related to ERP roles: 1) the creation of unnecessary roles 2) the rule of least access should apply to permission assignments and 3) monitor role creation and permission-granting activities

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

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

48. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer

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

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