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






2. 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






3. 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.






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






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






6. 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






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






8. The types of contracts: Quantity Contract - ___________






9. Participation in business processes - such as workflow






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






11. 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






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






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






14. 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






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






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






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






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






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






20. Posting periods in FF






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






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






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






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






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






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






27. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






28. 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






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






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






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






32. Manages the transportation and storage of goods






33. 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






34. 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






35. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






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






37. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






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






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






42. 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






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






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






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






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






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






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






49. 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






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