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Exam 12: The Purchasing Process

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Question 41

Multiple Choice

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

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

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Question 42

Multiple Choice

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

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

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Question 43

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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.

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

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.

Who usually authorizes a purchase requisition?

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

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

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.

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

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

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.

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

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 ______________________________.

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

In many organizations _____________________________ do the actual buying

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

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

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