NPMA CPPS Practice Test questions solved and verified 100%

NPMA CPPS Practice Test questions solved and verified 100% What is the document most organizations use that describes and conveys the process steps taken to produce a desired result? -Correct Answer-Procedure Which of the following terms means "to possess and have use of property of another with delegated responsibilities"? -Correct Answer-Accountability What element is crucial to the entire process of the property control system? -Correct Answer-Records When does the Acquisition begin? -Correct Answer-Needs have been defined What is the first step of the approval process when making a purchase? -Correct Answer-Obtaining approval to spend budgeted organizational funds 3. When a decision has been made to buy new equipment, considerations should be decided, such as: immediate availability, extended service warranties, and _________. -Correct Answer-Advanced technology When a Purchase Order has been completed, Purchasing should provide a copy of the Purchase Order to property management, the originator, accounts payable, and what other department? -Correct Answer-Receiving What establishes delegation of authority for signature approval thresholds and types of property for those signature levels? -Correct Answer-Organization procedure In organizations having online financial systems, documentation is created electronically and is retained in the system's transaction history. It is often used as part of a three-way match of transactions prior to payment: the PO, the receiving documentation, and the ___________. -Correct Answer-Invoice A ________________________ provides receiving activity information as well as a way to trace items that are lost or misappropriated during the receiving process or during delivery from the receiving area. -Correct Answer-Receiving voucher log