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. Price Variance. Maximum cash discount variance.






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






3. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer






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






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






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






7. 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.






8. Sends work assignments through an e-mail system






9. Track logistics movement of goods.






10. 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






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






12. 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






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






14. A meta-language for describing markup languages






15. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






18. The types of contracts: Quantity Contract - ___________






19. 2 categories of collaboration systems: __________ - structured/process






20. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






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






23. Posting periods in FF






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






25. 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






26. Request for quotation






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






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






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






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






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






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






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






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






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






36. 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






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






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






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






40. Supports team interactions






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






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






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






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






46. An outline agreement






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






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






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






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