Question 1

In selecting a vendor, a buyer may need to obtain competitive bids by means of a document called a purchase order.

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

The answer of Whereas a receiving report normally indicates that...

Question 3

Outputs of a purchasing process normally might include all of the following except:

Accepted Answer

A)  purchase order 
B)  PO inventory notification sent to the inventory system 
C)  receiving report 
D)  vendor invoice 
A)  purchase order 
B)  PO inventory notification sent to the inventory system 
C)  receiving report 
D)  vendor invoice

Question 4

A paperless system would eliminate documents and forms as the medium for conducting business transactions.

Accepted Answer

A) True 
 B)False

Question 5

The purchase requisition is sent from the inventory control department to the ______________________________ department.

Accepted Answer

The answer of The purchase requisition is sent from the...

Question 6

Purchase orders are sent to:

Accepted Answer

A)  customers 
B)  vendors 
C)  carriers 
D)  managers 
A)  customers 
B)  vendors 
C)  carriers 
D)  managers

Question 7

A(n) ______________________________ system would eliminate documents and forms as the medium for conducting business.

Accepted Answer

The answer of A(n) ______________________________ system would eliminate documents and...

Question 8

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 9

After the vendor has been selected, the buyer prepares a purchase order.

Accepted Answer

A) True 
 B)False

Question 10

Data about vendor compliance with the terms of the purchase order normally would be included in the:

Accepted Answer

A)  accounts payable master data 
B)  vendor master data 
C)  inventory master data 
D)  warehouse master data 
A)  accounts payable master data 
B)  vendor master data 
C)  inventory master data 
D)  warehouse master data

Question 11

In the Purchasing Process - Level 0 Diagram, a data flow called "inventory's purchase requisition" most likely would be sent by the inventory management process to which of the following processes?

Accepted Answer

A)  order goods and services 
B)  receive goods and services 
C)  determine requirements 
D)  none of the above 
A)  order goods and services 
B)  receive goods and services 
C)  determine requirements 
D)  none of the above

Question 12

Before executing a purchase, buyers should compare vendors for favorable prices, ______________________________, quality and ______________________________to determine that they have made an optimal choice for the purchase.

Accepted Answer

terms, product avail

Question 13

In the process of preparing a receiving report, the receiving department should perform all of the following tasks except:

Accepted Answer

A)  inspect and approve quality 
B)  count the quantity received 
C)  compare the completed receiving report to the information stored in the purchase order master data 
D)  compare the vendor's packing slip to a copy of the purchase requisition 
A)  inspect and approve quality 
B)  count the quantity received 
C)  compare the completed receiving report to the information stored in the purchase order master data 
D)  compare the vendor's packing slip to a copy of the purchase requisition

Question 14

Assume that one of the process bubbles in the Purchasing Process - Level 0 Diagram is called "order goods and services." The data flow between "order goods and services" and the "vendor" is called a:

Accepted Answer

A)  purchase order 
B)  receiving report 
C)  stock notice 
D)  inventory notice 
A)  purchase order 
B)  receiving report 
C)  stock notice 
D)  inventory notice

Question 15

The purchasing manager is evaluated by his/her supervisors based on purchasing inventory at the lowest price. Consequently, the purchasing manager knowingly orders materials only based on price. This has resulted in the purchase of inferior quality materials. This improved the purchasing manager's performance evaluation, but had a negative impact on production due to an increase in scrapped materials. This situation is an example of a failure of:

Accepted Answer

A)  goal congruence 
B)  management perquisites 
C)  management by exception 
D)  control theory 
A)  goal congruence 
B)  management perquisites 
C)  management by exception 
D)  control theory

Question 16

In the Purchasing Process - Level 0 Diagram, a data flow called "vendor packing slip" would most likely be sent by the vendor to which of the following processes?

Accepted Answer

A)  order goods and services 
B)  receive goods and services 
C)  determine requirements 
D)  none of the above 
A)  order goods and services 
B)  receive goods and services 
C)  determine requirements 
D)  none of the above

Question 17

Which of the following is a technique for ranking items in a group based on the value, activity, sales, or other relevant metric for the items?

Accepted Answer

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

Question 18

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 acknowledgement 
A)  the purchase requisition 
B)  the purchase order 
C)  receive goods and services 
D)  a vendor acknowledgement

Question 19

Notification that a PO has been prepared and sent to the vendor is sent to the original requester, to ______________________________, and to ______________________________.

Accepted Answer

receiving, accounts

Question 20

The document used to record merchandise receipts is called a(n) ______________________________.

Accepted Answer

The answer of The document used to record merchandise receipts...

In selecting a vendor, a buyer may need to obtain competitive bids by means of a document called a purchase order.

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

Outputs of a purchasing process normally might include all of the following except:

A paperless system would eliminate documents and forms as the medium for conducting business transactions.

The purchase requisition is sent from the inventory control department to the ______________________________ department.

Purchase orders are sent to:

A(n) ______________________________ system would eliminate documents and forms as the medium for conducting business.

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.

After the vendor has been selected, the buyer prepares a purchase order.

Data about vendor compliance with the terms of the purchase order normally would be included in the:

In the Purchasing Process - Level 0 Diagram, a data flow called "inventory's purchase requisition" most likely would be sent by the inventory management process to which of the following processes?

Before executing a purchase, buyers should compare vendors for favorable prices, , quality and to determine that they have made an optimal choice for the purchase.

In the process of preparing a receiving report, the receiving department should perform all of the following tasks except:

Assume that one of the process bubbles in the Purchasing Process - Level 0 Diagram is called "order goods and services." The data flow between "order goods and services" and the "vendor" is called a:

In the Purchasing Process - Level 0 Diagram, a data flow called "vendor packing slip" would most likely be sent by the vendor to which of the following processes?

Which of the following is a technique for ranking items in a group based on the value, activity, sales, or other relevant metric for the items?

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

Notification that a PO has been prepared and sent to the vendor is sent to the original requester, to , and to .

The document used to record merchandise receipts is called a(n) ______________________________.

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

In selecting a vendor, a buyer may need to obtain competitive bids by means of a document called a purchase order.

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

Outputs of a purchasing process normally might include all of the following except:

A paperless system would eliminate documents and forms as the medium for conducting business transactions.

The purchase requisition is sent from the inventory control department to the ______________________________ department.

Purchase orders are sent to:

A(n) ______________________________ system would eliminate documents and forms as the medium for conducting business.

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.

After the vendor has been selected, the buyer prepares a purchase order.

Data about vendor compliance with the terms of the purchase order normally would be included in the:

In the Purchasing Process - Level 0 Diagram, a data flow called "inventory's purchase requisition" most likely would be sent by the inventory management process to which of the following processes?

Before executing a purchase, buyers should compare vendors for favorable prices, ______________________________, quality and ______________________________to determine that they have made an optimal choice for the purchase.

In the process of preparing a receiving report, the receiving department should perform all of the following tasks except:

Assume that one of the process bubbles in the Purchasing Process - Level 0 Diagram is called "order goods and services." The data flow between "order goods and services" and the "vendor" is called a:

In the Purchasing Process - Level 0 Diagram, a data flow called "vendor packing slip" would most likely be sent by the vendor to which of the following processes?

Which of the following is a technique for ranking items in a group based on the value, activity, sales, or other relevant metric for the items?

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

Notification that a PO has been prepared and sent to the vendor is sent to the original requester, to ______________________________, and to ______________________________.

The document used to record merchandise receipts is called a(n) ______________________________.

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

Before executing a purchase, buyers should compare vendors for favorable prices, , quality and to determine that they have made an optimal choice for the purchase.

Notification that a PO has been prepared and sent to the vendor is sent to the original requester, to , and to .