Question 1

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 data 
A)  accounts payable master data 
B)  vendor master data 
C)  vouchers payable master data 
D)  purchase order master data D

Question 2

Which of the following is not included in the SCOR model as one of the five basic components of supply chain management?

Accepted Answer

A)  Plan 
B)  Source 
C)  Deliver 
D)  Receive 
A)  Plan 
B)  Source 
C)  Deliver 
D)  Receive D

Question 3

Which of the following is not a potential benefit of supply chain management?

Accepted Answer

A)  lower costs to the customer 
B)  reduced inventories 
C)  reduced customer orders 
D)  reduced product defects 
A)  lower costs to the customer 
B)  reduced inventories 
C)  reduced customer orders 
D)  reduced product defects C

Question 4

Purchase requisitions are compiled in a(n) ______________________________ data store.

Accepted Answer

purchase r

Question 5

The typical information flows in a purchasing process might include all of the following except:

Accepted Answer

A)  a purchase requisition is sent from inventory control to the purchasing department 
B)  the purchase order is sent to the vendor 
C)  goods or services are received from the vendor 
D)  a copy of a receiving report is sent to the cashier 
A)  a purchase requisition is sent from inventory control to the purchasing department 
B)  the purchase order is sent to the vendor 
C)  goods or services are received from the vendor 
D)  a copy of a receiving report is sent to the cashier

Question 6

______________________________ means that before a receipt can be accepted and recorded, the receipt data should be compared with the PO master data to determine that an approved PO, prepared by someone other than receiving personnel, is on file.

Accepted Answer

Independen

Question 7

______________________________ are particular Web sites or portals that may be used as sources of supply in the procurement process.

Accepted Answer

The answer of ______________________________ are particular Web sites or portals...

Question 8

The warehouse master data contains a record of each inventory item which is stocked in the warehouse and/or regularly ordered from a vendor.

Accepted Answer

A) True 
 B)False

Question 9

The control plan compare vendors for favorable prices, terms, quality, and product availability is directed primarily at which of the following control goals?

Accepted Answer

A)  ensure effectiveness of operations 
B)  input validity 
C)  input accuracy 
D)  input completeness 
A)  ensure effectiveness of operations 
B)  input validity 
C)  input accuracy 
D)  input completeness

Question 10

______________________________ features collaborative processes across the supply chain using a set of processes and technology models.

Accepted Answer

Collaborative Planning Forecas

Question 11

Management should exercise the control plan ______________________________ to ensure that a purchase is within an applicable budget and that the purchase is desirable.

Accepted Answer

approve pu

Question 12

______________________________ is a technique of analyzing all incremental costs associated with acquiring and carrying particular items of inventory.

Accepted Answer

Economic order quant

Question 13

Which of the following is a potential problem with supply chain management initiatives?

Accepted Answer

A)  confused lines of responsibility 
B)  inaccurate data within the supply chain 
C)  over-reliance on demand forecasting 
D)  all of the above 
A)  confused lines of responsibility 
B)  inaccurate data within the supply chain 
C)  over-reliance on demand forecasting 
D)  all of the above

Question 14

The control plan ______________________________ assumes that there is a segregation of duties between the personnel who create vendor records and those that create and approve POs, record accounts payable, and approve payments.

Accepted Answer

independen

Question 15

According to the context diagram for the purchasing process, when a purchase order is sent to the vendor, the vendor responds by sending the goods along with a(n) ______________________________.

Accepted Answer

The answer of According to the context diagram for the...

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

The following is a list of 12 control plans.
   Required:
Listed below are 10 system failures that indicate weaknesses in control. On the answer line to the left of each description, insert the capital letter (from the list above) of the best control plan to address the system deficiency described. A letter should be used only once. Two letters will not be used.

Accepted Answer

The answer of The following is a list of 12...

Question 18

______________________________ management is the combination of processes and procedures used to ensure the delivery of goods and services to customers at the lowest cost while providing the highest value to the customer.

Accepted Answer

The answer of ______________________________ management is the combination of processes...

Question 19

The ______________________________ process is an interacting structure of people, equipment, activities, and controls that is designed to accomplish the steps of requirements determination, purchase order processing, and goods receipt.

Accepted Answer

The answer of The ______________________________ process is an interacting structure...

Question 20

______________________________ is a technique for ranking inventory items in a group based on the value, activity, sales, or other relevant metric for the items..

Accepted Answer

The answer of ______________________________ is a technique for ranking inventory...

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

Which of the following is not included in the SCOR model as one of the five basic components of supply chain management?

Which of the following is not a potential benefit of supply chain management?

Purchase requisitions are compiled in a(n) ______________________________ data store.

The typical information flows in a purchasing process might include all of the following except:

______________________________ means that before a receipt can be accepted and recorded, the receipt data should be compared with the PO master data to determine that an approved PO, prepared by someone other than receiving personnel, is on file.

______________________________ are particular Web sites or portals that may be used as sources of supply in the procurement process.

The warehouse master data contains a record of each inventory item which is stocked in the warehouse and/or regularly ordered from a vendor.

The control plan compare vendors for favorable prices, terms, quality, and product availability is directed primarily at which of the following control goals?

______________________________ features collaborative processes across the supply chain using a set of processes and technology models.

Management should exercise the control plan ______________________________ to ensure that a purchase is within an applicable budget and that the purchase is desirable.

______________________________ is a technique of analyzing all incremental costs associated with acquiring and carrying particular items of inventory.

Which of the following is a potential problem with supply chain management initiatives?

The control plan ______________________________ assumes that there is a segregation of duties between the personnel who create vendor records and those that create and approve POs, record accounts payable, and approve payments.

According to the context diagram for the purchasing process, when a purchase order is sent to the vendor, the vendor responds by sending the goods along with a(n) ______________________________.

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

______________________________ management is the combination of processes and procedures used to ensure the delivery of goods and services to customers at the lowest cost while providing the highest value to the customer.

The ______________________________ process is an interacting structure of people, equipment, activities, and controls that is designed to accomplish the steps of requirements determination, purchase order processing, and goods receipt.

______________________________ is a technique for ranking inventory items in a group based on the value, activity, sales, or other relevant metric for the items..

Introduction to Accounting Information Systems

Enterprise Systems

Electronic Business E-Business Systems

Documenting Information Systems

Database Management Systems

Relational Databases and SQL

Controlling Information Systems: Introduction to Enterprise Risk Management and Internal Control

Controlling Information Systems: Introduction to Pervasive Controls

Controlling Information Systems: Business Process and Application Controls

The Order Entrysales Oes Process

The Billingaccounts Receivablecash Receipts Barcr Process

The Accounts Payablecash Disbursements Apcd Process

The Human Resources Process HR Management and Payroll Processes

Integrated Production Processes IPP

The General Ledger and Business Reporting GLBR Process

Acquiring and Implementing Accounting Information Systems

Filters

Exam 12: The Purchasing Process

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

Which of the following is not included in the SCOR model as one of the five basic components of supply chain management?

Which of the following is not a potential benefit of supply chain management?

Purchase requisitions are compiled in a(n) ______________________________ data store.

The typical information flows in a purchasing process might include all of the following except:

______________________________ means that before a receipt can be accepted and recorded, the receipt data should be compared with the PO master data to determine that an approved PO, prepared by someone other than receiving personnel, is on file.

______________________________ are particular Web sites or portals that may be used as sources of supply in the procurement process.

The warehouse master data contains a record of each inventory item which is stocked in the warehouse and/or regularly ordered from a vendor.

The control plan compare vendors for favorable prices, terms, quality, and product availability is directed primarily at which of the following control goals?

______________________________ features collaborative processes across the supply chain using a set of processes and technology models.

Management should exercise the control plan ______________________________ to ensure that a purchase is within an applicable budget and that the purchase is desirable.

______________________________ is a technique of analyzing all incremental costs associated with acquiring and carrying particular items of inventory.

Which of the following is a potential problem with supply chain management initiatives?

The control plan ______________________________ assumes that there is a segregation of duties between the personnel who create vendor records and those that create and approve POs, record accounts payable, and approve payments.

According to the context diagram for the purchasing process, when a purchase order is sent to the vendor, the vendor responds by sending the goods along with a(n) ______________________________.

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

______________________________ management is the combination of processes and procedures used to ensure the delivery of goods and services to customers at the lowest cost while providing the highest value to the customer.

The ______________________________ process is an interacting structure of people, equipment, activities, and controls that is designed to accomplish the steps of requirements determination, purchase order processing, and goods receipt.

______________________________ is a technique for ranking inventory items in a group based on the value, activity, sales, or other relevant metric for the items..

Introduction to Accounting Information Systems

Enterprise Systems

Electronic Business E-Business Systems

Documenting Information Systems

Database Management Systems

Relational Databases and SQL

Controlling Information Systems: Introduction to Enterprise Risk Management and Internal Control

Controlling Information Systems: Introduction to Pervasive Controls

Controlling Information Systems: Business Process and Application Controls

The Order Entrysales Oes Process

The Billingaccounts Receivablecash Receipts Barcr Process

The Accounts Payablecash Disbursements Apcd Process

The Human Resources Process HR Management and Payroll Processes

Integrated Production Processes IPP

The General Ledger and Business Reporting GLBR Process

Acquiring and Implementing Accounting Information Systems

Filters