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






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






3. 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






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






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






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






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






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






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






10. 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






11. Participation in business processes - such as workflow






12. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






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






15. 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






16. 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






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






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






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






21. 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






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






23. 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






24. 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






25. 2 categories of collaboration systems: __________ - structured/process






26. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






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






29. The types of contracts: Quantity Contract - ___________






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






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






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






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






34. 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






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






36. 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






37. The steps to completing the ___________ process: Agreement - invoice - payment.






38. Posting periods in FF






39. An outline agreement






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






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






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






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






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






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






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






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






48. usiness intelligence - CRM - SCM - e-business






49. The second largest ERP vendor






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







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