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. The second largest ERP vendor






2. 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






3. 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






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






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






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






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






8. 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






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






10. The types of contracts: Quantity Contract - ___________






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






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






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






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






15. The primary reason for data warehousing is to _______________






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






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






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






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






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






21. Posting periods in FF






22. Participation in business processes - such as workflow






23. 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






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






25. Track logistics movement of goods.






26. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






27. 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






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. 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.






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






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






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






34. Includes what management systems: document MS - digital asset MS - web content MS






35. Price Variance. Maximum cash discount variance.






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






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






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






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






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






41. 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






42. 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






43. Request for quotation






44. Manages the transportation and storage of goods






45. An outline agreement






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






48. 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






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






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