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






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






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






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






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






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






7. 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






8. Price Variance. Maximum cash discount variance.






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






10. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






11. 3 characteristics of overall fit: off the rack - off the rack and tailored to fit - ______






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






13. 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






14. 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






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






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






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






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






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






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






21. 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






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






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






24. 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






25. Supports team interactions






26. Participation in business processes - such as workflow






27. 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






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






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






30. Track logistics movement of goods.






31. 2 categories of collaboration systems: __________ - structured/process






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






34. The types of contracts: Quantity Contract - ___________






35. Sends work assignments through an e-mail system






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






37. An outline agreement






38. 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






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






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






41. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






42. Manages the transportation and storage of goods






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






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






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






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






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






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






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






50. 2 or more organizations cooperate by integrating their IT systems - providing customers with the best of what each can offer