Ch03 mc - Practice test for students PDF

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Practice test for students...

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1. In the procurement process, which department creates the Purchase Order? a. Sales *b. Purchasing c. Warehouse d. Accounting 2. In the procurement process, which department receives the Purchase Requisition? a. Sales *b. Purchasing c. Warehouse d. Accounting 3. In the procurement process, which department creates the Purchase Requisition? a. Sales b. Purchasing *c. Warehouse d. Accounting 4. In the procurement process, which department creates the Packing List and Goods Receipt Document? a. Sales b. Purchasing *c. Warehouse d. Accounting 5. In the procurement process, which department receives the invoice and sends the payment? a. Sales b. Purchasing c. Warehouse *d. Accounting 6. Which of the following is the correct sequence of steps in the Procurement Process? *a. Create Requisition, Create & Send PO, Receive Shipment, Receive Invoice, Send Payment b. Create & Send PO, Receive Requisition, Receive Shipment, Receive Invoice, Send Payment c. Create & Send PO, Receive Shipment, Create Requisition, Receive Invoice, Send Payment d. Create Requisition, Create & Send PO, Receive Customer Acknowledgment, Receive Shipment, Receive Invoice 7. Which of the following documents informs about the contents in a shipment? a. Invoice b. Purchase Order c. Goods Receipt Document

*d. Packing List 8. Which of the following payment terms means that payment is due in 30 days, but the payer will get a 3% discount if payment is made within 10 days? a. 10%30/Net 10 *b. 3%10/Net 30 c. Net 10/30 d. 10%3/Net 30 9. A packing list does not include which of the following data? *a. price/cost b. weight c. quantity d. ship date 10. How does the recipient of a shipment know which order the shipment is for? *a. by referencing the order number included in the accompanying packing list b. by referencing the order number included in the accompanying purchase order c. by matching the material in the shipment with one of the unfilled purchase orders d. by performing a three-way match of key documents 11. Under which of the following payment terms is payment due in 30 days, but the payer will get a 1% discount if payment is made within 7 days? a. 7%30/Net 10 *b. 1%7/Net 30 c. Net 7/30 d. 7%1/Net 30 12. A purchase requisition does not include which of the following data? *a. price/cost b. F.O.B. Point c. quantity d. requested delivery date 13. A purchase order does not include which of the following data? a. price/cost b. F.O.B. Point c. quantity *d. requisition number 14. A goods receipt does not include which of the following data? *a. price/cost b. quantity received c. quantity ordered d. backorder quantity

15. An invoice does not include which of the following data? a. price/cost b. F.O.B. Point c. quantity *d. requested delivery date 16. Which of the following documents identifies the material needed, the quantity needed, and the date it is needed? a. Invoice b. Goods Receipt Document c. Packing List *d. Purchase Requisition 17. Which of the following documents is an agreement to purchase? a. Invoice *b. Purchase Order c. Goods Receipt Document d. Purchase Requisition 18. Which of the following documents verifies that the specified goods have been received? a. Invoice b. Purchase Order *c. Goods Receipt Document d. Packing List 19. Which of the following documents is sent to accounting for payment? *a. Invoice b. Purchase Order c. Packing List d. Purchase Requisition 20. What is the only document where the quantity of the materials is not relevant? a. Purchase Order b. Goods Receipt Document *c. Payment d. Purchase Requisition 21. What document is the only document created by the purchasing department? a. Invoice *b. Purchase Order c. Goods Receipt Document d. Purchase Requisition 22. Payment terms are declared on what document? a. Invoice

*b. Purchase Order c. Goods Receipt Document d. Purchase Requisition...