Question 1

Which of the following are examples of process-level information relevant to the procurement process?

Accepted Answer

A)   Which customers are prompt and which ones are habitually late in sending the payment?
B)   Which materials are purchased most frequently?
C)   Which materials are produced most often?
D)   Which vendor does SSB buy from the most frequently?
E)   What is the average time between sending a purchase order and receiving the shipment?

Question 2

One purchase requisition can be converted to only one purchase order.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following are key data in a purchase order when the order is first created?

Accepted Answer

A)   Quantity of material ordered
B)   Requested Delivery Date
C)   Prices of the material ordered
D)   Date the order was shipped
E)   Purchase order number

Question 4

A three-way match is necessary before payment is made.

Accepted Answer

A) True 
 B)False

Question 5

A purchase requisition is associated with the warehouse in the procurement process.

Accepted Answer

A) True 
 B)False

Question 6

An invoice is associated with accounting in the procurement process.

Accepted Answer

A) True 
 B)False

Question 7

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 8

Which of the following are key data in a goods receipt?

Accepted Answer

A)   Requested Delivery Date
B)   Order and received quantity
C)   Prices of the material ordered
D)   Receipt Date
E)   Unit weight

Question 9

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 10

A goods receipt is a document that verifies that the specified goods have been received.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following are key data in an invoice?

Accepted Answer

A)   Requested Delivery Date
B)   Order and received quantity
C)   Prices of the material ordered
D)   Invoice Date
E)   FOB

Question 12

The packing list is part of the receive goods step in the Purchasing Process.

Accepted Answer

A) True 
 B)False

Question 13

Payment terms are declared on what document?

Accepted Answer

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

Question 14

An invoice is a document that verifies that the specified goods have been received.

Accepted Answer

A) True 
 B)False

Question 15

In which of the following documents is the price of the materials relevant?

Accepted Answer

A)   Invoice
B)   Purchase Requisition
C)   Good Receipt Document
D)   Packing List
E)   Purchase Order

Question 16

A three-way match involves which of the following documents?

Accepted Answer

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

Question 17

In the procurement process, which department receives the invoice and sends the payment?

Accepted Answer

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

Question 18

An invoice is associated with purchasing in the procurement process.

Accepted Answer

A) True 
 B)False

Question 19

One purchase requisition can be converted to more than one purchase order.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following steps in the procurement process have a financial impact on the company that is buying materials?

Accepted Answer

A)   Create purchase requisition
B)   Receive shipment from vendor
C)   Receive invoice form vendor
D)   Create and send purchase order
E)   Send payment to vendor

Exam 3: The Procurement Process

In the procurement process, which department receives the invoice and sends the payment?

Correct AnswerverifiedShow Answer

Payment terms are declared on what document?

Correct AnswerverifiedShow Answer

One purchase requisition can be converted to only one purchase order.

Correct AnswerverifiedShow Answer

A purchase requisition is associated with the warehouse in the procurement process.

Correct AnswerverifiedShow Answer

In which of the following documents is the price of the materials relevant?

Correct AnswerverifiedShow Answer

An invoice is associated with accounting in the procurement process.

Correct AnswerverifiedShow Answer

Which of the following are key data in a purchase order when the order is first created?

Correct AnswerverifiedShow Answer

An invoice is associated with purchasing in the procurement process.

Correct AnswerverifiedShow Answer

An invoice is a document that verifies that the specified goods have been received.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following are examples of process-level information relevant to the procurement process?

Correct AnswerverifiedShow Answer

Which of the following steps in the procurement process have a financial impact on the company that is buying materials?

Correct AnswerverifiedShow Answer

One purchase requisition can be converted to more than one purchase order.

Correct AnswerverifiedShow Answer

A goods receipt is a document that verifies that the specified goods have been received.

Correct AnswerverifiedShow Answer

Which of the following are key data in an invoice?

Correct AnswerverifiedShow Answer

A three-way match involves which of the following documents?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following are key data in a goods receipt?

Correct AnswerverifiedShow Answer

A three-way match is necessary before payment is made.

Correct AnswerverifiedShow Answer

The packing list is part of the receive goods step in the Purchasing Process.

Correct AnswerverifiedShow Answer

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