Cengage Accounting Information Systems Chapter 12

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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