Question 1

A purchase requisition does not include which of the following data?

Accepted Answer

A)  price/cost
B)  F.O.B.Point
C)  quantity
D)  requested delivery date

Question 2

In the procurement process,which department creates the Packing List and Goods Receipt Document?

Accepted Answer

A)  Sales
B)  Purchasing
C)  Warehouse
D)  Accounting

Question 3

How does the recipient of a shipment know which order the shipment is for?

Accepted Answer

A)  by referencing the order number included in the accompanying packing list
B)  by referencing the order number included in the accompanying purchase order
C)  by matching the material in the shipment with one of the unfilled purchase orders
D)  by performing a three-way match of key documents

Question 4

Which of the following documents verifies that the specified goods have been received?

Accepted Answer

A)  Invoice
B)  Purchase Order
C)  Goods Receipt Document
D)  Packing List C

Question 5

In the procurement process,which department creates the Purchase Order?

Accepted Answer

A)  Sales
B)  Purchasing
C)  Warehouse
D)  Accounting B

Question 6

In the procurement process,which department receives the Purchase Requisition?

Accepted Answer

A)  Sales
B)  Purchasing
C)  Warehouse
D)  Accounting

Question 7

A purchase order does not include which of the following data?

Accepted Answer

A)  price/cost
B)  F.O.B.Point
C)  quantity
D)  requisition number

Question 8

Which of the following documents identifies the material needed,the quantity needed,and the date it is needed?

Accepted Answer

A)  Invoice
B)  Goods Receipt Document
C)  Packing List
D)  Purchase Requisition

Question 9

Payment terms are declared on what document?

Accepted Answer

A)  Invoice
B)  Purchase Order
C)  Goods Receipt Document
D)  Purchase Requisition

Question 10

A goods receipt does not include which of the following data?

Accepted Answer

A)  price/cost
B)  quantity received
C)  quantity ordered
D)  backorder quantity A

Question 11

Which of the following documents is an agreement to purchase?

Accepted Answer

A)  Invoice
B)  Purchase Order
C)  Goods Receipt Document
D)  Purchase Requisition

Question 12

What document is the only document created by the purchasing department?

Accepted Answer

A)  Invoice
B)  Purchase Order
C)  Goods Receipt Document
D)  Purchase Requisition

Question 13

Which of the following documents informs about the contents in a shipment?

Accepted Answer

A)  Invoice
B)  Purchase Order
C)  Goods Receipt Document
D)  Packing List

Question 14

Which of the following payment terms means that payment is due in 30 days,but the payer will get a 3% discount if payment is made within 10 days?

Accepted Answer

A)  10%30/Net 10
B)  3%10/Net 30
C)  Net 10/30
D)  10%3/Net 30

Question 15

In the procurement process,which department creates the Purchase Requisition?

Accepted Answer

A)  Sales
B)  Purchasing
C)  Warehouse
D)  Accounting

Question 16

Under which of the following payment terms is payment due in 30 days,but the payer will get a 1% discount if payment is made within 7 days?

Accepted Answer

A)  7%30/Net 10
B)  1%7/Net 30
C)  Net 7/30
D)  7%1/Net 30

Question 17

What is the only document where the quantity of the materials is not relevant?

Accepted Answer

A)  Purchase Order
B)  Goods Receipt Document
C)  Payment
D)  Purchase Requisition

Question 18

A packing list does not include which of the following data?

Accepted Answer

A)  price/cost
B)  weight
C)  quantity
D)  ship date

Question 19

Which of the following is the correct sequence of steps in the Procurement Process?

Accepted Answer

A)  Create Requisition,Create & Send PO,Receive Shipment,Receive Invoice,Send Payment
B)  Create & Send PO,Receive Requisition,Receive Shipment,Receive Invoice,Send Payment
C)  Create & Send PO,Receive Shipment,Create Requisition,Receive Invoice,Send Payment
D)  Create Requisition,Create & Send PO,Receive Customer Acknowledgment,Receive Shipment,Receive Invoice

Question 20

Which of the following documents is sent to accounting for payment?

Accepted Answer

A)  Invoice
B)  Purchase Order
C)  Packing List
D)  Purchase Requisition

Exam 3: A: The Procurement Process

A purchase requisition does not include which of the following data?

Correct AnswerverifiedShow Answer

In the procurement process,which department creates the Packing List and Goods Receipt Document?

Correct AnswerverifiedShow Answer

How does the recipient of a shipment know which order the shipment is for?

Correct AnswerverifiedShow Answer

Which of the following documents verifies that the specified goods have been received?

Correct AnswerverifiedC

In the procurement process,which department creates the Purchase Order?

Correct AnswerverifiedB

In the procurement process,which department receives the Purchase Requisition?

Correct AnswerverifiedShow Answer

A purchase order does not include which of the following data?

Correct AnswerverifiedShow Answer

Which of the following documents identifies the material needed,the quantity needed,and the date it is needed?

Correct AnswerverifiedShow Answer

Payment terms are declared on what document?

Correct AnswerverifiedShow Answer

A goods receipt does not include which of the following data?

Correct AnswerverifiedA

Which of the following documents is an agreement to purchase?

Correct AnswerverifiedShow Answer

What document is the only document created by the purchasing department?

Correct AnswerverifiedShow Answer

Which of the following documents informs about the contents in a shipment?

Correct AnswerverifiedShow Answer

Which of the following payment terms means that payment is due in 30 days,but the payer will get a 3% discount if payment is made within 10 days?

Correct AnswerverifiedShow Answer

In the procurement process,which department creates the Purchase Requisition?

Correct AnswerverifiedShow Answer

Under which of the following payment terms is payment due in 30 days,but the payer will get a 1% discount if payment is made within 7 days?

Correct AnswerverifiedShow Answer

What is the only document where the quantity of the materials is not relevant?

Correct AnswerverifiedShow Answer

A packing list does not include which of the following data?

Correct AnswerverifiedShow Answer

Which of the following is the correct sequence of steps in the Procurement Process?

Correct AnswerverifiedShow Answer

Which of the following documents is sent to accounting for payment?

Correct AnswerverifiedShow Answer

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A

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