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Test your basic knowledge |
ERP: Enterprise Resource Planning
Start Test
Study First
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. 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
Structured collaboration
Company code level
SAP R/3
Segregation of duties
2. 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
Internal business process
Online analytical processing (OLAP
Document numbers
Core Applications
3. ncorrect taxonomy results in invalid mapping that may cause material misrepresentation of financial data
Default
Vendor master records
Taxonomy Creation
Enterprise Resource System (ERP) Software
4. usiness intelligence - CRM - SCM - e-business
Extended ERP components
Enterprise Resource System (ERP) Software
XBRL (eXtensible Business Reporting System)
Elogistics
5. The key ________ issues: Employee resistance - retraining and reorientation - more data collection screens required - lack of qualified personnel - security - and employee retention
ERP PEOPLE
Vendor master records
Collaboration system
Contracts
6. The second largest ERP vendor
Posting keys
Social networking analysis
Online analytical processing (OLAP
Oracle
7. 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
Organizational standardization
Company code level
Custom made
Automatic account assignments
8. An XML base language for standardizing methods for preparing - publishing - and exchanging financial information
Segregation of duties
XBRL (eXtensible Business Reporting System)
Vendor master records
Online transaction processing (OLTP)
9. Tell us who is responsible for the document and when it was created.
Optimize business performance
Document principles
Invoice receipt tolerances
Company code level
10. Supports the work of teams by facilitating the sharing and flow of information
Collaboration system
Database-based workflow system
Big Bang Method of ERP implementation
Knowledge management
11. Facilitates the automation and management of business processes and controls the movement of work through the business process
Solid implementation plan
Workflow management system
Core competency
Social networking analysis
12. Sends work assignments through an e-mail system
Internal business process
Tolerance group
Messaging-based workflow system
Core ERP components
13. Includes what management systems: document MS - digital asset MS - web content MS
Automatic account assignments
CMS marketplace
Taxonomy Creation
Workflow management system
14. Supports team interactions
Knowledge management systems (KMS)
Groupware
Elogistics
Company code level
15. Enables organizations to clarify their vision and strategy and translate them into action
ERP PEOPLE
Instantaneously
Balanced scorecard
Internal business process
16. The components to setup automatic account assignments: Chart of Accounts - Transaction key - _____________ - Modifier of Transaction Key - Valuation Class
Workflow management system
Valuation Grouping code
Enterprise Resource System (ERP) Software
CMS marketplace
17. The types of contracts: Quantity Contract - ___________
Default
Quality Contract
Core competency
Procurement process
18. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial
Content management system
Material master records
Internal business process
Explicit knowledge
19. Best practices for transferring or recreating tacit knowledge: ___________ and joint problem solving
Shadowing
Valuation Grouping code
Flexible configuration
Posting keys
20. Provides tools to manage the creation - storage - editing - and publication of information in a collaborative environment
Online analytical processing (OLAP
Unstructured/information
Content management system
Organizational standardization
21. Impact on auditor responsibility as a consequence of real-time distribution of financial statements
Phased-In Method of ERP Implementation
Company code level
Audit scope and timeframe
Taxonomy Creation
22. Price Variance. Maximum cash discount variance.
3 way match
Phased-In Method of ERP Implementation
Purchasing tolerances
Business Analysis Applications
23. Components needed to process a ____________: Vendor - Rent Expense Account - Amount - Invoice - and agreement.
Quotation
Monthly rent expense
Valuation Grouping code
XML (eXtensible Markup Language)
24. 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
Online transaction processing (OLTP)
Valuation Grouping code
SAP (Systems - Applications - and Products)
Database-based workflow system
25. 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
Segregation of duties
SAP (Systems - Applications - and Products)
Monthly rent expense
Internal control issues
26. Track logistics movement of goods.
Automatic account assignments
Core ERP components
Information partnership
Tolerance group
27. The two main ERP applications: Core Applications and ___________
Flexible configuration
Balanced scorecard
Groupware
Business Analysis Applications
28. An outline agreement
Hypertext
Workflow
Posting keys
Contracts
29. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans
Solid implementation plan
Proper business analysis
Core Applications
Core ERP components
30. 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
XML (eXtensible Markup Language)
Instance documents
General ledger accounts
Key Business Exposures
31. A system that integrates all departments and functions across an organization into a single computer system; helps facilitate communications among departments
Payment terms
Vendor master records
Enterprise Resource System (ERP) Software
ERP TECHNOLOGY
32. Categories of intellectual and knowledge-based categories: explicit knowledge and _____________
Peoplesoft
Tacit knowledge
Monthly rent expense
ERP PROCESS
33. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______
Custom made
ERP PROCESS
Content management system
Solid implementation plan
34. You have created a material master. This material be shared at _________
Plant level
Online transaction processing (OLTP)
Information partnership
Procurement process
35. You have created a vendor master. This vendor be shared at ________
Company code level
Contracts
Data warehouse
Custom made
36. 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.
Oracle
Flexible configuration
Knowledge management
Payment terms
37. The Key _____________ issues: There are many high costs - maintenance requirements (upgrades and compatability) - extensive reorganization of the company
Oracle
ERP PROCESS
Workflow management system
Business Analysis Applications
38. 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.
Core ERP components
CRM
Taxonomy Creation
General ledger accounts
39. Links to other documents on the Web and enables the reader to jump to another document located anywhere on the World Wide Web
Posting periods
Material master records
Document numbers
Hypertext
40. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer
Purchasing tolerances
Information partnership
3 way match
ERP PROCESS
41. A meta-language for describing markup languages
Segregation of duties
RFQ
XML (eXtensible Markup Language)
Custom made
42. Anything that can be documented - archived - and codified - often with the help of IT
Company code level
Business Analysis Applications
Explicit knowledge
Document numbers
43. Tells whether a transaction is a debit or credit and what G/L account is associated.
Posting keys
ERP TECHNOLOGY
RFQ
Custom made
44. 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
Phased-In Method of ERP Implementation
Flexible configuration
ERP TECHNOLOGY
45. Participation in business processes - such as workflow
Structured collaboration
13
Social networking analysis
ERP TECHNOLOGY
46. he financial periods that are posted for reporting purposes - internal and external.
Flexible configuration
Big Bang Method of ERP implementation
Posting periods
Enterprise Resource System (ERP) Software
47. The purpose of __________: Audit Trail. Determines the type of document it is.
Audit scope and timeframe
Business Analysis Applications
Document numbers
Structured collaboration
48. Three things make a _________: Document number. Fiscal Year. Company Code.
Document unique
CRM
Contracts
Business Analysis Applications
49. 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
Company code level
Core Applications
Procurement process
Content management system
50. Includes support for multicountry - multicurrency environments and wide scalability
SAP R/3
Content management system
Groupware
Workflow