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






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






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






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






5. The types of contracts: Quantity Contract - ___________






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






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






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






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






10. Supports team interactions






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






12. 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






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






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






15. Manages the transportation and storage of goods






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






17. 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






18. 2 categories of collaboration systems: __________ - structured/process






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






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






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






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






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






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






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






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






27. 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






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






29. The primary reason for data warehousing is to _______________






30. Price Variance. Maximum cash discount variance.






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






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






34. 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






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






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






37. 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.






38. 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






39. 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.






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






41. 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






42. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






44. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






45. An outline agreement






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






47. Posting periods in FF






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






49. 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






50. 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