5,6,7
41. A storage location-to storage location transfer involves which of the following?
A stock transfer between two storage location within the same plant
3. In the procurement process, which department receives the invoice and sends the payment?
Accounting
4. Which of the following is the correct sequence of steps in the Procurement Process?
Create Requisition, Create & Send-PO, Receive Shipment, Receive Invoive, Send Payment
22. Examples of _________ are furniture and computers.
Discrete manufacturing
10. Which of the following documents is sent to accounting for payment?
Invoice
21. ___________ is taking raw materials, such as plastic pellets and creating something from them, such as plate or a cup
Manufacturing
24. ___________ is a separate process in organizations that is concerned with creating new products based on such factors as market research and new production techniques.
Product design
13. Which of the following defines the steps or operations necessary to create the product?
Product routing
25. ___________ is the number of skateboards the shop floor can produce in a specified amount of time, such as per hour or per day
Production capacity
18. ___________ provides written authorization to the shop floor to produce the stated quantity of products.
Production order
17. When using an ES, which of the following is a key tool to review the current status of a specific order?
Production order status
11. Payment terms are declared on what document?
Purchase Order
9. Which of the following documents is an agreement to purchase?
Purchase Order
1. In the procurement process, which department creates the Purchase Order
Purchasing
26. Which term is a personal ledger account that condenses data from a group of related sub-ledger account
Reconciliation account
19. Which of the following is the sequence of activities in the Production Process?
Reqest Production, Authorize Production, Issue raw Materials, Create Product, Receive Finished Goods
29. Which term represents the ---- a company earns by selling its products and services
Revenue
15. When using an ES, which of the following is a key tool to review the current inventory and upcoming productions orders for a specific product?
Stock requirements list
38. The key organization level associated with inventory management is,
Storage location
43. Shelf storage, pallet storage, and rack storage are examples of
Storage type
34. A chart of accounts (CDA) is an ordered listing of accounts that comprise a company's general ledger
TRUE
34. A chart of accounts (COA) is an ordered listing of accounts that comprise a company's general ledger
TRUE
36. Parallel accounting consists of implementing multiple ledgers and using each ledger for different purposes
TRUE
46. On-stop procedures two-ocp procedure and stock transport order are strategies for moving materials
TRUE
48. A pisods issue reveals in the creation of appropriate material IT and CO documents
TRUE
50. A storage location is a key organizational level associated with inventory arrangement
TRUE
30. Which type of asset has a physical form
Tangible asset
2. In the procurement process, which department creates the Purchase Requisition?
Warehouse
42. Which of the following represents the hierarchy of a warehouse?
Warehouse, storage section, storage type, storage bin
39. In the production practice a goods issue reflects
issuing raw materials or semi finished goods to a production order
7. A packing list does not include which of the following data?
price/cost
8. A purchase requisition does not include which of the following data?
price/cost
23. Examples of __________ are oil and gas.
Process Manufacturing
6. 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
3%10/Net 30
20. ___________ involves taking a number of component materials, such as a board, nuts and bolts, and putting them together to produce the desired finished product such as a skateboard.
Assembling
28. Which term represents what a company owns such as cash, inventory of materials and buildings
Assets
12. Which of the following identifies the parts needed to make one unit of a product?
Bill of material
32. Financial statements can be generated from which of the following?
Both operatice and country specific CDAs
45. Warehouse management is typically used
By organizations that have either large quantities of materials or an expensive inventory
14. Which of the following is the result of the product design process?
Engineering drawing
35. Assets are monies the company earns by selling its products and services.
FALSE
37. An increase in an asset account or an expense account results in credit posting
FALSE
47. A transfer posting always involves an actual movement of materials
FALSE
49. A pood recipes can't be posted without reference to an order
FALSE
27. ____________ is concerned with recording the financial impacts of business processes as the are executed.
Financial accounting
31. Which of the following is used to report data needed to meet legal and regulatory requirements?
Financial statements
44. If a company stores a material in a storage location that is associated with a warehouse, then it must include additional data.
In the warehouse management view of the material maker for that material
16. ___________ includes a list of all the materials needed to produce the quantity of finished goods stated in the production order.
Material withdrawal status
5. Which of the following documents informs about the contents in a shipment
Packing List
40. What is a stock transfer used for?
To physically move materials within the enterprise from one organizational level or location to another