INMT exam 1 practice questions
An internal document used to ask the purchasing department to buy some needed item
is called - answer purchase request
a purchase order is considered open until - answer goods are received and liability is
recorded
of the business processes, the ____ business process is most diverse across a variety
of companies - answer conversion
which of the following inventory management theories is based off forecasts - answer
materials requirements planning
to order goods from a vendor, which would of these would you create last - answer
purchase order
which of the following source documents could be created by a company during the
OTC business process [sales invoice, receiving report, return merchandise
authorization, purchase request, service level agreement] - answer sales invoice,
service level agreement, return merchandise agreement
specific invoicing - answerno the company does not do this
service level agreement - answeryes the company does this
lockboxes - answeryes the company does this
purchase request - answerthis does not apply to the described process (its PTP)
Which of the following is not a function that needs to be separated from other functions
based on an ideal separation of duties model? - answerreporting
Which business event in the Procure‐to‐Pay process triggers two information processing
responses? - answerreceive and inspect goods from vendor
A "blind" copy of the purchase order would most likely be sent to which department? -
answerreceiving department
When does a purchase request become closed? - answerwhen it gets denied or when it
gets approved
An internal document used to ask the purchasing department to buy some needed item
is called - answer purchase request
a purchase order is considered open until - answer goods are received and liability is
recorded
of the business processes, the ____ business process is most diverse across a variety
of companies - answer conversion
which of the following inventory management theories is based off forecasts - answer
materials requirements planning
to order goods from a vendor, which would of these would you create last - answer
purchase order
which of the following source documents could be created by a company during the
OTC business process [sales invoice, receiving report, return merchandise
authorization, purchase request, service level agreement] - answer sales invoice,
service level agreement, return merchandise agreement
specific invoicing - answerno the company does not do this
service level agreement - answeryes the company does this
lockboxes - answeryes the company does this
purchase request - answerthis does not apply to the described process (its PTP)
Which of the following is not a function that needs to be separated from other functions
based on an ideal separation of duties model? - answerreporting
Which business event in the Procure‐to‐Pay process triggers two information processing
responses? - answerreceive and inspect goods from vendor
A "blind" copy of the purchase order would most likely be sent to which department? -
answerreceiving department
When does a purchase request become closed? - answerwhen it gets denied or when it
gets approved
