Question 1

As used in the purchasing process chapter, the term "goods and services" refers to raw materials, merchandise, supplies, fixed assets, or intangible assets.

Accepted Answer

A) True 
 B)False

Question 2

The document one business sends to another business that identifies the goods or services to be purchased is a:

Accepted Answer

A) request for proposal 
B) purchase requisition 
C) purchase order 
D) disbursement voucher 
A) request for proposal 
B) purchase requisition 
C) purchase order 
D) disbursement voucher

Question 3

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 4

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

Accepted Answer

A) minimize inventory carrying costs 
B) written approvals 
C) compare vendors for prices, terms, quality, product availability 
D) requisition confirmation to originating department 
A) minimize inventory carrying costs 
B) written approvals 
C) compare vendors for prices, terms, quality, product availability 
D) requisition confirmation to originating department

Question 5

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 ______________________________.

Accepted Answer

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

Question 6

In preparing a PO, buyers should ___________________________________ to ensure that a purchase is being made from a suitable vendor.

Accepted Answer

use author

Question 7

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 8

In many organizations _____________________________ do the actual buying

Accepted Answer

The answer of In many organizations _____________________________ do the actual...

Question 9

When the data on the inventory record indicate a need to replenish the stock, the inventory system prepares a purchase order.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following data stores would you least expect to see in the Purchasing Process - Level 0 Diagram?

Accepted Answer

A) inventory master data 
B) vendor master data 
C) purchase order master data 
D) cash receipts data 
A) inventory master data 
B) vendor master data 
C) purchase order master data 
D) cash receipts data

Question 11

In many organizations professional buyers do the actual buying.

Accepted Answer

A) True 
 B)False

Question 12

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

Question 13

Before executing a purchase, buyers should compare vendors for _______________________, __________________ and ___________________________________to determine that they have made an optimal choice for the purchase.

Accepted Answer

favorable prices ter

Question 14

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

Question 15

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 16

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 17

A receiving report is to goods what a(n) ____ is to services.

Accepted Answer

A) purchase requisition 
B) purchase order 
C) acceptance report 
D) vendor packing slip 
A) purchase requisition 
B) purchase order 
C) acceptance report 
D) vendor packing slip

Question 18

Digital signatures allows the vendor to determine that the sender of the message has the authority to send it and thus prevents an unauthorized purchase.

Accepted Answer

A) True 
 B)False

Question 19

Who usually authorizes a purchase requisition?

Accepted Answer

A) the supervisor of the requisitioning department 
B) the purchasing manager 
C) a purchasing agent 
D) a customer 
A) the supervisor of the requisitioning department 
B) the purchasing manager 
C) a purchasing agent 
D) a customer

Question 20

Management should exercise the control plan of ___________________________________ to ensure that an appropriate supplier has been selected and that the correct goods and services, for the correct amounts, are being purchased.

Accepted Answer

approve pu

As used in the purchasing process chapter, the term "goods and services" refers to raw materials, merchandise, supplies, fixed assets, or intangible assets.

The document one business sends to another business that identifies the goods or services to be purchased is a:

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

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

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 ______________________________.

In preparing a PO, buyers should ___________________________________ to ensure that a purchase is being made from a suitable vendor.

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.

In many organizations _____________________________ do the actual buying

When the data on the inventory record indicate a need to replenish the stock, the inventory system prepares a purchase order.

Which of the following data stores would you least expect to see in the Purchasing Process - Level 0 Diagram?

In many organizations professional buyers do the actual buying.

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

Before executing a purchase, buyers should compare vendors for _, and _______________to determine that they have made an optimal choice for the purchase.

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

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

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

A receiving report is to goods what a(n) ____ is to services.

Digital signatures allows the vendor to determine that the sender of the message has the authority to send it and thus prevents an unauthorized purchase.

Who usually authorizes a purchase requisition?

Management should exercise the control plan of ___________________________________ to ensure that an appropriate supplier has been selected and that the correct goods and services, for the correct amounts, are being purchased.

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 Receivable Cash Receipts Barcr Process

Accounts Payablecash Disbursements Apcd Process

The Human Resources Process HR Management and Payroll Processes

Integrated Production Processes IPP

General Ledger and Business Reporting Glbr Process

Acquiring and Implementing Accounting Information Systems

Filters

Exam 12: The Purchasing Process

As used in the purchasing process chapter, the term "goods and services" refers to raw materials, merchandise, supplies, fixed assets, or intangible assets.

The document one business sends to another business that identifies the goods or services to be purchased is a:

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

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

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 ______________________________.

In preparing a PO, buyers should ___________________________________ to ensure that a purchase is being made from a suitable vendor.

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.

In many organizations _____________________________ do the actual buying

When the data on the inventory record indicate a need to replenish the stock, the inventory system prepares a purchase order.

Which of the following data stores would you least expect to see in the Purchasing Process - Level 0 Diagram?

In many organizations professional buyers do the actual buying.

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

Before executing a purchase, buyers should compare vendors for _______________________, __________________ and ___________________________________to determine that they have made an optimal choice for the purchase.

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

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

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

A receiving report is to goods what a(n) ____ is to services.

Digital signatures allows the vendor to determine that the sender of the message has the authority to send it and thus prevents an unauthorized purchase.

Who usually authorizes a purchase requisition?

Management should exercise the control plan of ___________________________________ to ensure that an appropriate supplier has been selected and that the correct goods and services, for the correct amounts, are being purchased.

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 Receivable Cash Receipts Barcr Process

Accounts Payablecash Disbursements Apcd Process

The Human Resources Process HR Management and Payroll Processes

Integrated Production Processes IPP

General Ledger and Business Reporting Glbr Process

Acquiring and Implementing Accounting Information Systems

Filters

Before executing a purchase, buyers should compare vendors for _, and _______________to determine that they have made an optimal choice for the purchase.