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






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






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






4. 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






5. 2 categories of collaboration systems: __________ - structured/process






6. 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






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






8. 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.






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






10. 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






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






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






13. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






14. An outline agreement






15. 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






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






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. 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






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






20. Supports team interactions






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






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






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






24. A meta-language for describing markup languages






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






26. 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






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






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






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






30. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






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






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






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






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






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






38. Request for quotation






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






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






41. Sends work assignments through an e-mail system






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






43. 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






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






45. 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






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






47. 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






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






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






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