Question 1

It is not uncommon for the copy of the PO available for the receiving department to be a carbon copy,meaning that certain data is blanked out.

Accepted Answer

A) True 
 B)False

Question 2

RFID tags are computer chips with an antenna that contains information about the object to which it is attached.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following techniques analyzes all incremental costs associated with acquiring and carrying particular items of inventory?

Accepted Answer

A)   cyclical reordering
B)   reorder point analysis
C)   EOQ models
D)   ABC analysisE) A) and B)
F) B) and D)

Question 4

The resources for which the purchasing process wants to ensure security for which of the following:

Accepted Answer

A)   purchase order master data
B)   inventory
C)   both a and b
D)   neither a or bE) A) and B)
F) A) and C)

Question 5

In a purchasing process,once requirements are determined and a vendor selected,the next step is:

Accepted Answer

A)   the purchase requisition
B)   the purchase order
C)   receive goods and services
D)   a vendor acknowledgementE) None of the above
F) C) and D)

Question 6

The ______________________________ manager usually performs major buying activities as well as the required administrative duties of running a department.

Accepted Answer

The answer of The ______________________________ manager usually performs major buying...

Question 7

Documents requiring approval,such as a purchase requisition,may be routed for electronic approval using ______________________________ software.

Accepted Answer

The answer of Documents requiring approval,such as a purchase requisition,may...

Question 8

The ____ is a compilation of open purchase orders and includes the status of each item on order.

Accepted Answer

A)   accounts payable master data
B)   vendor master data
C)   vouchers payable master data
D)   purchase order master dataE) All of the above
F) A) and B)

Question 9

Whereas a receiving report normally indicates that goods have been received,some organizations use an acceptance report to acknowledge formally the satisfactory completion of a service contract.

Accepted Answer

A) True 
 B)False

Question 10

The ______________________________ supervisor is responsible for receiving incoming goods,signing the bill of lading presented by the carrier,reporting the receipt of goods,and making prompt transfer of goods to the appropriate warehouse or department.

Accepted Answer

The answer of The ______________________________ supervisor is responsible for receiving...

Question 11

An employee has a conflict of interest when he (she)has a financial interest (direct or indirect)in a company with which the employer does business.

Accepted Answer

A) True 
 B)False

Question 12

The ______________________________ is the primary key for the relational table for inventory.

Accepted Answer

The answer of The ______________________________ is the primary key for...

Question 13

Which of the following process bubbles would you not expect to see in the Purchasing Process - Level 0 Diagram?

Accepted Answer

A)   make payment
B)   order goods and services
C)   receive goods and services
D)   determine requirementsE) A) and B)
F) A) and C)

Question 14

A receiving report is an external request for the purchase of goods or services from a vendor.

Accepted Answer

A) True 
 B)False

Question 15

The ______________________________ is the primary key for relational table for vendors.

Accepted Answer

vendor num...

Question 16

TB Figure 12.11 is a partial flowchart for the purchasing process.There are selected symbols that must be filled in to complete the flowchart.Fill in the items with missing labels using a letter from A to J.

Accepted Answer

The answer of TB Figure 12.11 is a partial flowchart...

Question 17

Which of the following items is not a control plan of the purchasing process?

Accepted Answer

A)   minimize inventory carrying costs
B)   approved purchase order
C)   compare vendors for favorable prices,terms,quality,and product availability
D)   PO confirmation to requesting departmentE) C) and D)
F) B) and D)

Question 18

As used in the text,the term services specifically refers to:

Accepted Answer

A)   items having a physical existence and value
B)   work performed by employees
C)   work performed by outside vendors
D)   products normally held for resaleE) B) and C)
F) A) and B)

Question 19

Which of the following is least likely to report directly to the vice president of logistics?

Accepted Answer

A)   controller
B)   receiving department
C)   purchasing department
D)   warehouseE) B) and D)
F) A) and D)

Question 20

______________________________ allow the vendor to determine that the sender of the message has the authority to send it and thus prevents an unauthorized purchase.

Accepted Answer

The answer of ______________________________ allow the vendor to determine that...

Exam 12: The Purchasing Process

The ______________________________ is the primary key for relational table for vendors.

Correct Answerverifiedvendor num...View AnswerShow Answer

The ______________________________ supervisor is responsible for receiving incoming goods,signing the bill of lading presented by the carrier,reporting the receipt of goods,and making prompt transfer of goods to the appropriate warehouse or department.

Correct AnswerverifiedShow Answer

Which of the following is least likely to report directly to the vice president of logistics?

Correct AnswerverifiedShow Answer

Which of the following process bubbles would you not expect to see in the Purchasing Process - Level 0 Diagram?

Correct AnswerverifiedShow Answer

The ______________________________ manager usually performs major buying activities as well as the required administrative duties of running a department.

Correct AnswerverifiedShow Answer

______________________________ allow the vendor to determine that the sender of the message has the authority to send it and thus prevents an unauthorized purchase.

Correct AnswerverifiedShow Answer

In a purchasing process,once requirements are determined and a vendor selected,the next step is:

Correct AnswerverifiedShow Answer

An employee has a conflict of interest when he (she)has a financial interest (direct or indirect)in a company with which the employer does business.

Correct AnswerverifiedShow Answer

Which of the following items is not a control plan of the purchasing process?

Correct AnswerverifiedShow Answer

Documents requiring approval,such as a purchase requisition,may be routed for electronic approval using ______________________________ software.

Correct AnswerverifiedShow Answer

A receiving report is an external request for the purchase of goods or services from a vendor.

Correct AnswerverifiedShow Answer

The ______________________________ is the primary key for the relational table for inventory.

Correct AnswerverifiedShow Answer

The ____ is a compilation of open purchase orders and includes the status of each item on order.

Correct AnswerverifiedShow Answer

Which of the following techniques analyzes all incremental costs associated with acquiring and carrying particular items of inventory?

Correct AnswerverifiedShow Answer

It is not uncommon for the copy of the PO available for the receiving department to be a carbon copy,meaning that certain data is blanked out.

Correct AnswerverifiedShow Answer

The resources for which the purchasing process wants to ensure security for which of the following:

Correct AnswerverifiedShow Answer

As used in the text,the term services specifically refers to:

Correct AnswerverifiedShow Answer

TB Figure 12.11 is a partial flowchart for the purchasing process.There are selected symbols that must be filled in to complete the flowchart.Fill in the items with missing labels using a letter from A to J.

Correct AnswerverifiedShow Answer

RFID tags are computer chips with an antenna that contains information about the object to which it is attached.

Correct AnswerverifiedShow Answer

Whereas a receiving report normally indicates that goods have been received,some organizations use an acceptance report to acknowledge formally the satisfactory completion of a service contract.

Correct AnswerverifiedShow Answer

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