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Cengage Accounting Information Systems Chapter 12
Q1. Basic components of the Supply Chain Operations Reference (SCOR) model includes which of the following components?
- Select supply sources; procure goods and services
- Convert materials to products
- All of these choices are correct
- Gather customer requirements and available resources
Q2. The purchasing process includes:
- goods receipt
- purchase order
- requirements determination
- All of these choices are correct
Q3. What types of frauds are typically found in the purchasing process?
- An employee has a conflict of interest
- All of these choices
- An employee diverts the goods for personal use
- An employee takes kickbacks
Q4. Typical effectiveness goals of the purchasing process include:
- All of these choices
- Select a vendor who will provide the best quality at the lowest price by the required delivery date
- Ensure that the right goods in the correct amount are received in acceptable condition in a timely manner
- Comply with the organization’s code of conduct
Q5. The purchasing process interacts with the following entities:
- Inventory control, Warehouse, Vendor
- Logistics, Finance, Vendor
- Neither of these choices
- Both of these choices are correct are correct
Q6. Purchasing process primary functions include:
- Handle the repetitive work routines of the purchasing agents
- Assist in the preparation of internal and external reports
- All of these choices are correct
- Receive and manage incoming purchases
Q7. Categories of SCM software:
- Automates the SCM steps
- Accumulates data about orders from retail customers
- All of these choices are correct
- Helps an organization execute the steps in the supply chain
Q8. Radio-frequency identification (RFID):
- Can be used for repetitive and physical tasks
- Is a system for sending and receiving data, using wireless technology, between an RFID tag and an RFID transceiver
- Moves hardware, software and data storage to third party data centers
- Is the use of models to predict future patterns or outcomes
Q9. Which of the following assignment of responsibilities is incorrect?
- Receiving executes the receipts
- The controller/general ledger records the increase in inventory
- The receiving supervisor signs the bill of lading
- Purchasing has custody of the goods
Q10. In Vendor Managed Inventory (VMI):
- The vendor replenishes standard merchandise, and the buyer manages the replenishment of promotion merchandise
- The vendor receives inventory and sales data and responds with automatic shipments
- None of these choices are correct
- Retailer and manufacturer forecast demand and schedule production jointly
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