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. 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






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






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






4. Request for quotation






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






6. 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






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






9. Track logistics movement of goods.






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






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






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






13. The primary reason for data warehousing is to _______________






14. 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






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






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






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






18. Supports team interactions






19. 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






20. Sends work assignments through an e-mail system






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






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






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






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






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






26. 4 perspectives a balanced scorecard views an organization from: learning and growth - ____________ - customer - financial






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






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






29. Price Variance. Maximum cash discount variance.






30. Participation in business processes - such as workflow






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






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






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






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






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






36. 3 attributes of successful ERP components: overall fit - ___________ - solid implementation plans






37. 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






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






39. The types of contracts: Quantity Contract - ___________






40. 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






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






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






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






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






45. Manages the transportation and storage of goods






46. 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






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






48. 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.






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






50. 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