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






2. 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






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






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






5. 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






6. An outline agreement






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






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






9. 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.






10. Track logistics movement of goods.






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






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






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






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






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






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






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






18. 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






19. Request for quotation






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






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






22. 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






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






24. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






25. Manages the transportation and storage of goods






26. The second largest ERP vendor






27. Three things make a _________: Document number. Fiscal Year. Company Code.






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






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






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






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






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






33. 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






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






35. 2 categories of collaboration systems: __________ - structured/process






36. 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






37. 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






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






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






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






41. 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






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






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






44. 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






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






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






47. 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






48. 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.






49. 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






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