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






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






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






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. usiness intelligence - CRM - SCM - e-business






6. 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






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






8. 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






9. Manages the transportation and storage of goods






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






11. Participation in business processes - such as workflow






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






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






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






15. 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






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






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






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






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






20. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






21. 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.






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






23. Track logistics movement of goods.






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. 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






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






28. 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






29. 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






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






31. 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






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






33. Price Variance. Maximum cash discount variance.






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






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






36. An outline agreement






37. Sends work assignments through an e-mail system






38. 2 categories of collaboration systems: __________ - structured/process






39. Request for quotation






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






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






42. 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






43. Supports team interactions






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






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






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






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






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






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






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