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






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






3. 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






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






5. The types of contracts: Quantity Contract - ___________






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






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






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






9. The second largest ERP vendor






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






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






12. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






13. 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






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






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






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






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






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






20. 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.






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






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






23. Categories of intellectual and knowledge-based categories: explicit knowledge and _____________






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






25. 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.






26. 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






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






28. The primary reason for data warehousing is to _______________






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






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






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






32. 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






33. Price Variance. Maximum cash discount variance.






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






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






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






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






38. 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






39. A meta-language for describing markup languages






40. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






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






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






44. 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






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






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






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






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






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






50. 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