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