MISY 5340 Exam Newest With
Questions And Answers
2026/2027|100% Correct
Standard Items - ANSWER>Most common of item categories, and the process used to procure them includes the
following steps: 1. create purchase requisition, 2. create and send purchase order, 3. receive materials, 4. receive
invoice, 5. send payment
Consignment - ANSWER>This is when the vendor will get paid when an item is used or sold.
Third-Party Order - ANSWER>This refers to items that the vendor ships directly to the customer.
Subcontracting - ANSWER>This is an arrangement where a company sends material to a vendor, who uses them to
create semi-finished products.
Stock Transfer - ANSWER>The process whereby an organization uses the procurement process to obtain materials
from another plant within the same organization.
,Account Determination - ANSWER>The process whereby the system determines which general ledger accounts to
use in a given situation.
Consumable Materials - ANSWER>These materials that are acquired to be consumed by or used within the
organization. Examples are office supplies like pens and paper.
Account Assignment Object - ANSWER>This identifies the bearer of the cost of the purchase and is the entity for
which the materials were purchased.
Account Assignment Category - ANSWER>This determines the specific accounting data needed.
Stock Types/Status - ANSWER>This determines usability of a material.
Unrestricted Use Stock - ANSWER>This is stock located in the warehouse that is not subject to any kind of usage
restrictions.
In Quality Inspection (Blocked Stock) - ANSWER>This can be withdrawn only for sampling or for scrap; a company
uses the in quality inspection status when the goods it receives from a vendor must undergo inspection before
, being released for consumption; blocked stock is typically used for materials that are damaged or unusable for
some reason.
Stock In Transit - ANSWER>This is when materials are being moved from one plant to another.
Goods Movement - ANSWER>A transaction that causes a change in stock (value or status).
Goods Receipt - ANSWER>This records the receipt of materials into storage, which results in an increase in
inventory quantity.
Goods Issue - ANSWER>This is when materials are removed from storage, in which case inventory is reduced.
Stock Transfer - ANSWER>This is used to move goods from one location to another within the organization.
Transfer Posting - ANSWER>This is to change a material's status or type.
Material Document - ANSWER>This records data related to a goods movement, such as the receipt of goods from a
vendor.
Questions And Answers
2026/2027|100% Correct
Standard Items - ANSWER>Most common of item categories, and the process used to procure them includes the
following steps: 1. create purchase requisition, 2. create and send purchase order, 3. receive materials, 4. receive
invoice, 5. send payment
Consignment - ANSWER>This is when the vendor will get paid when an item is used or sold.
Third-Party Order - ANSWER>This refers to items that the vendor ships directly to the customer.
Subcontracting - ANSWER>This is an arrangement where a company sends material to a vendor, who uses them to
create semi-finished products.
Stock Transfer - ANSWER>The process whereby an organization uses the procurement process to obtain materials
from another plant within the same organization.
,Account Determination - ANSWER>The process whereby the system determines which general ledger accounts to
use in a given situation.
Consumable Materials - ANSWER>These materials that are acquired to be consumed by or used within the
organization. Examples are office supplies like pens and paper.
Account Assignment Object - ANSWER>This identifies the bearer of the cost of the purchase and is the entity for
which the materials were purchased.
Account Assignment Category - ANSWER>This determines the specific accounting data needed.
Stock Types/Status - ANSWER>This determines usability of a material.
Unrestricted Use Stock - ANSWER>This is stock located in the warehouse that is not subject to any kind of usage
restrictions.
In Quality Inspection (Blocked Stock) - ANSWER>This can be withdrawn only for sampling or for scrap; a company
uses the in quality inspection status when the goods it receives from a vendor must undergo inspection before
, being released for consumption; blocked stock is typically used for materials that are damaged or unusable for
some reason.
Stock In Transit - ANSWER>This is when materials are being moved from one plant to another.
Goods Movement - ANSWER>A transaction that causes a change in stock (value or status).
Goods Receipt - ANSWER>This records the receipt of materials into storage, which results in an increase in
inventory quantity.
Goods Issue - ANSWER>This is when materials are removed from storage, in which case inventory is reduced.
Stock Transfer - ANSWER>This is used to move goods from one location to another within the organization.
Transfer Posting - ANSWER>This is to change a material's status or type.
Material Document - ANSWER>This records data related to a goods movement, such as the receipt of goods from a
vendor.
