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Test your basic knowledge |
ERP: Enterprise Resource Planning
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Subject
:
it-skills
Instructions:
Answer 50 questions in 15 minutes.
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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 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
Tolerance group
Monthly rent payment
Instantaneously
Groupware
2. 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
Organizational standardization
Document unique
Hypertext
RFQ
3. The components to setup automatic account assignments: Chart of Accounts - Transaction key - _____________ - Modifier of Transaction Key - Valuation Class
Valuation Grouping code
XBRL (eXtensible Business Reporting System)
Document types
Balanced scorecard
4. Three things make a _________: Document number. Fiscal Year. Company Code.
Document numbers
Document unique
Tolerance group
Structured collaboration
5. You have created a __________. This materialwould be shared at each (smallest unit possible to be considered for a material)
Knowledge management systems (KMS)
Procurement process
Material master
Knowledge management
6. Track logistics movement of goods.
Automatic account assignments
Payment is too high or low
Workflow
Balanced scorecard
7. Participation in business processes - such as workflow
Purchasing tolerances
Knowledge management
Monthly rent payment
Structured collaboration
8. 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.
Monthly rent payment
General ledger accounts
Organizational standardization
Custom made
9. Database constructed for quick searching - retrieval - ad hoc queries - and ease of use
Data warehouse
Document unique
Monthly rent payment
Groupware
10. ____________________ categoriesKnowledge repositories (databases) - expertise tools - e-learning applications - discussion and chat technologies - search and data mining tools
Core ERP components
Phased-In Method of ERP Implementation
Knowledge management systems (KMS)
Proper business analysis
11. The purpose of __________: Audit Trail. Determines the type of document it is.
Document numbers
Big Bang Method of ERP implementation
Groupware
Company code level
12. A _____ is needed to monitor the quality - objectives - and timelines
Invoice receipt tolerances
Solid implementation plan
XBRL (eXtensible Business Reporting System)
ERP TECHNOLOGY
13. 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
Business Analysis Applications
Segregation of duties
Audit scope and timeframe
General ledger accounts
14. Impact on auditor responsibility as a consequence of real-time distribution of financial statements
Database-based workflow system
Audit scope and timeframe
Contracts
Custom made
15. 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.
Payment terms
Posting periods
Core ERP components
Explicit knowledge
16. Companies who purchase modules from ERP - SCM and ___ vendors must integrate the different modules together
Purchasing tolerances
Automatic account assignments
Core competency
CRM
17. All the steps or business rules - from beginning to end - required for a business process
XML (eXtensible Markup Language)
Posting periods
Workflow
Business Analysis Applications
18. A process of mapping a group's contacts to identify who knows whom and who works with whom
XBRL (eXtensible Business Reporting System)
Social networking analysis
Document unique
Posting keys
19. Posting periods in FF
13
Business Analysis Applications
Core competency
Flexible configuration
20. Links to other documents on the Web and enables the reader to jump to another document located anywhere on the World Wide Web
ERP PEOPLE
Hypertext
Tacit knowledge
Enterprise Resource System (ERP) Software
21. 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
Optimize business performance
Instance documents
Big Bang Method of ERP implementation
XBRL (eXtensible Business Reporting System)
22. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans
Proper business analysis
Balanced scorecard
Internal control issues
Information partnership
23. Price Variance. Maximum cash discount variance.
Monthly rent payment
Purchasing tolerances
Workflow
Extended ERP components
24. The primary reason for data warehousing is to _______________
Tolerance group
Flexible configuration
Core Applications
Optimize business performance
25. 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
XBRL (eXtensible Business Reporting System)
Online analytical processing (OLAP
Plant level
Database-based workflow system
26. Capturing - classifying - evaluating - retrieving - and sharing information assets that provides context for effective decisions and actions
Knowledge management
Enterprise Resource System (ERP) Software
Core Applications
Workflow
27. Supports team interactions
Database-based workflow system
Instantaneously
Document principles
Groupware
28. Supports the work of teams by facilitating the sharing and flow of information
Workflow
Shadowing
Phased-In Method of ERP Implementation
Collaboration system
29. Validation of ________ - ensure that appropriate taxonomy and tags have been applied
Quality Contract
3 way match
Proper business analysis
Instance documents
30. What components are needed to ____________: A vendor - an insurance expense account - amount of payment.
Optimize business performance
Workflow management system
Process insurance expense
Business Analysis Applications
31. Approach for implementing ERP systems in a phased manner; a popular alternative to the Big Bang method
Phased-In Method of ERP Implementation
Hypertext
3 way match
ERP TECHNOLOGY
32. usiness intelligence - CRM - SCM - e-business
Extended ERP components
Invoice receipt tolerances
Key Business Exposures
Dozen
33. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer
Payment is too high or low
ERP PEOPLE
General ledger accounts
Information partnership
34. The steps to completing the ___________: Vendor/Expense account exists - process invoice receipt - and then pay.
Audit scope and timeframe
Procurement process
Collaboration system
ERP PROCESS
35. Best practices for transferring or recreating tacit knowledge: ___________ and joint problem solving
Core ERP components
Shadowing
Monthly rent expense
Custom made
36. ERP is different: 1)The system usually resides on multiple computers - 2) the system allows ______________ - customization - and maintenance 3) On-line and real-time processing (all databases are updated simultaneously and all stored together) 4) Dat
Business Analysis Applications
Procurement process
Flexible configuration
Online analytical processing (OLAP
37. Sends work assignments through an e-mail system
Collaboration system
Messaging-based workflow system
Core competency
Taxonomy Creation
38. 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
Key Business Exposures
CRM
XML (eXtensible Markup Language)
Business Analysis Applications
39. To share ____________: One person creates the material number - Everyone the recreates the material using the same number and add their plant information to it.
Core ERP components
Contracts
Material master records
Structured collaboration
40. How can tolerance groups be categorized: They can be either _________ or special. Users must be assigned to special.
Default
Peoplesoft
XBRL (eXtensible Business Reporting System)
RFQ
41. he financial periods that are posted for reporting purposes - internal and external.
Posting periods
13
CMS marketplace
Optimize business performance
42. 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
Payment is too high or low
Quotation
Core Applications
Document principles
43. In ________ - D - R - K - and Z mean: D - Customer R - Invoice K - Vendor Z - Payment
Explicit knowledge
Posting periods
Document types
Proper business analysis
44. The key ________ issues: Employee resistance - retraining and reorientation - more data collection screens required - lack of qualified personnel - security - and employee retention
Core competency
Optimize business performance
XBRL (eXtensible Business Reporting System)
ERP PEOPLE
45. You have created a material master. This material be shared at _________
Taxonomy Creation
Workflow
Optimize business performance
Plant level
46. You have created a vendor master. This vendor be shared at ________
Monthly rent payment
Taxonomy Creation
Company code level
ERP TECHNOLOGY
47. 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
Core competency
Internal control issues
Explicit knowledge
Audit scope and timeframe
48. The two main ERP applications: Core Applications and ___________
Balanced scorecard
Business Analysis Applications
Internal control issues
ERP PEOPLE
49. Includes support for multicountry - multicurrency environments and wide scalability
Document unique
Core competency
SAP R/3
ERP TECHNOLOGY
50. The types of contracts: Quantity Contract - ___________
ERP PROCESS
CMS marketplace
Proper business analysis
Quality Contract
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