Exam 9: Procurement and Human Resources Business Processes

Presented below is a list of terms relating to accounting information systems,followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term.Each answer will be used only once. ________ 1.Purchase requisition ________ 2.Procurement ________ 3.Approved vendor list ________ 4.Blind count ________ 5.Purchase order ________ 6.Attribute rating ________ 7.Request for quotation ________ 8.Receiving report ________ 9.Invoice verification ________ 10.Voucher package A.Counters in receiving do not have access to quantities shown on purchase orders. B.Document used to request a purchase C.A summary of vendors approved for use by the purchasing function D.A collection of documents that are reviewed and approved to authorize a transaction E.An approach to vendor selection which identifies,lists,and evaluates several different aspects concerning a vendor F.Prepared to document the receipt of deliveries from vendors G.The document issued to a vendor to initiate a purchase H.The business process of selecting a source,ordering,and acquiring goods or services I.The review of purchasing documentation prior to authorizing payment to vendors J.Documents used to request competitive bids from vendors

In a negative timekeeping system only exceptions are recorded.

The function responsible for reconciling the bank account upon which voucher checks are drawn is

An outline agreement detailing the total quantity of material to be ordered over a period of time is a

The rate of pay for an employee cannot be changed unless authorized by the ________ department.

The ERP system compares which of the following documents in its invoice verification procedure?

Which of the following should not have access to signed paychecks?

In the SAP ERP system,an outline agreement with a vendor is basically a

Buyer-vendor relationships are more a matter of procedure than of policy.

To make each infotype in the ERP system unique and to prevent overwriting when updating infotypes,________ data is added to each infotype.

In the ERP system,which one of the following is an "infotype"?

Management and auditors must be concerned with evaluating the existence and functioning of controls as they are necessary to protect against the risk of ________ misstatements.

A synonym for the word "purchasing" is "procurement."

In ERP,master records are created that reflect the organization structure and business processes of the company.Company,plant,and storage locations are known in ERP as

Once a purchase requisition is completed,it is electronically forwarded to a(n)________ for approval.

In ERP,the invoice verification component ensures that

Name four federal acts or types of taxes that relate to payroll,and briefly discuss the main provision of each.

The department responsible for authorizing employee pay deductions is the

In the procurement business process it is not necessary to separate receiving from stores.

Master records used only by purchasing in the ERP system are ________ ________ records.