Procurement Process Quiz Questions

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Mcrabill1
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  • 1/15 Questions

    Which of the following are examples of instance-level information relevant to the procurement process?

    • What was the total of the invoice?
    • When did we receive the goods?
    • What is the average time it takes to receive the goods?
    • How frequent do we purchase goods from vendor x?
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About This Quiz

This procurement process quiz assesses knowledge on key aspects such as invoice totals, purchase requisitions, goods receipt data, and purchase order pricing. It is designed for learners to understand instance-level details and financial impacts within procurement.

Procurement Process Quiz Questions - Quiz

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  • 2. 

    Which of the following steps in the procurement process do not have financial impact on the company that is buying materials?

    • Create purchase requisition

    • Receive invoice from vendor

    • Create and send purchase order

    • Receive ordered goods

    Correct Answer(s)
    A. Create purchase requisition
    A. Receive invoice from vendor
    A. Create and send purchase order
    Explanation
    The steps in the procurement process that do not have a financial impact on the company that is buying materials are creating a purchase requisition and creating and sending a purchase order. These steps involve initiating the procurement process and communicating the need for materials to the vendor, but they do not involve any financial transactions. On the other hand, receiving an invoice from the vendor and receiving the ordered goods directly involve financial transactions as the company needs to make payments for the materials received.

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  • 3. 

    Which of the following are key data in a goods receipt?

    • Order and received quantity

    • Received date

    • Price of each unit

    • Weight of each unit

    Correct Answer(s)
    A. Order and received quantity
    A. Received date
    Explanation
    In a goods receipt, key data includes the order and received quantity, as well as the received date. These pieces of information are crucial for tracking and managing inventory. The order and received quantity help to ensure that the correct amount of goods has been received, while the received date is important for monitoring delivery times and ensuring timely processing of the goods.

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  • 4. 

    Which of the following are examples of instance-level information relevant to the procurement process?

    • When did we receive the goods?

    • What was the total payment?

    • Was the invoice received? If so, when?

    • What is the average time it takes to receive invoice?

    Correct Answer(s)
    A. When did we receive the goods?
    A. What was the total payment?
    A. Was the invoice received? If so, when?
    Explanation
    The examples provided in the answer - "When did we receive the goods?", "What was the total payment?", and "Was the invoice received? If so, when?" - are all specific instances or occurrences that are relevant to the procurement process. These questions inquire about specific events or transactions that have taken place, such as the timing of receiving goods, the amount of payment made, and the status of the invoice. This type of information is considered instance-level because it pertains to specific instances or occurrences within the procurement process.

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  • 5. 

    Which of the following are key data in a purchase order when the order is first created?

    • Prices of the material ordered

    • PO number

    • Quantity of material ordered

    • Requested delivery date

    • Bill to address

    Correct Answer(s)
    A. Prices of the material ordered
    A. PO number
    A. Quantity of material ordered
    A. Requested delivery date
    Explanation
    When a purchase order is first created, key data that are typically included are the prices of the material ordered, the PO number (which is a unique identifier for the order), the quantity of material ordered, and the requested delivery date. These details are essential for accurately documenting the order and ensuring that the correct materials are received in a timely manner. The bill to address, although important, may not necessarily be a key data point when the purchase order is initially created.

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  • 6. 

    In which of the following documents is the price of the materials not relevant?

    • Goods Receipt Document

    • Purchase requisition

    • Packing list

    • Invoice

    Correct Answer(s)
    A. Goods Receipt Document
    A. Purchase requisition
    A. Packing list
    Explanation
    The price of materials is not relevant in the Goods Receipt Document, Purchase Requisition, and Packing List because these documents are primarily used for tracking and recording the receipt and movement of goods, rather than for financial purposes. The focus of these documents is on the quantity, description, and condition of the materials, rather than their cost. On the other hand, the Invoice is a financial document that includes the price of the materials and serves as a request for payment from the buyer to the seller.

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  • 7. 

    A Three-way match involves which of the following documents?

    • Goods receipt document

    • Purchase order

    • Invoice

    • Packing list

    Correct Answer(s)
    A. Goods receipt document
    A. Purchase order
    A. Invoice
    Explanation
    A three-way match involves three documents: the goods receipt document, the purchase order, and the invoice. The goods receipt document is used to verify that the goods or services have been received as ordered. The purchase order is a document that outlines the details of the order placed by the buyer. The invoice is a document sent by the seller to request payment for the goods or services provided. By comparing these three documents, a three-way match ensures that the goods received match the order placed and that the invoice accurately reflects the goods or services received.

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  • 8. 

    Which of the following are examples of instance level information relevant to the procurement process?

    • What was the total of the invoice?

    • Was the invoice paid? if so, when?

    • How long did it take to receive the shipment after creating the purchase order?

    • What companies are habitually late in sending payment?

    Correct Answer(s)
    A. What was the total of the invoice?
    A. Was the invoice paid? if so, when?
    A. How long did it take to receive the shipment after creating the purchase order?
    Explanation
    The given answer is correct because all three statements - "what was the total of the invoice?", "Was the invoice paid? if so, when?", and "How long did it take to receive the shipment after creating the purchase order?" - provide specific details about individual instances within the procurement process. They focus on specific transactions, such as the total amount of an invoice, the payment status and date, and the time taken to receive a shipment after creating a purchase order. These details are considered instance level information as they pertain to specific occurrences within the procurement process.

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  • 9. 

    Which of the following are key data in a purchase requisition when the requisition is first created?

    • Quantity of material requested

    • Requested delivery date

    • Price of material ordered

    • Purchase order number

    Correct Answer(s)
    A. Quantity of material requested
    A. Requested delivery date
    Explanation
    When a purchase requisition is first created, the key data that need to be included are the quantity of material requested and the requested delivery date. These two pieces of information are essential for the purchasing department to accurately process the request and ensure that the required materials are delivered on time. The price of the material ordered and the purchase order number are not typically included in the initial creation of a purchase requisition, as they are usually determined and added later in the purchasing process.

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  • 10. 

    Which of the following steps in the procurement process have a financial impact on the company hat is buying materials?

    • Receive shipment from vendor

    • Send payment to vendor

    • Send purchase order

    • Send purchase requisition

    Correct Answer(s)
    A. Receive shipment from vendor
    A. Send payment to vendor
    Explanation
    The steps in the procurement process that have a financial impact on the company buying materials are receiving the shipment from the vendor and sending payment to the vendor. When the company receives the shipment, it signifies that the materials have been delivered and the company may need to pay for them. Sending payment to the vendor is the actual financial transaction where the company settles the payment for the materials purchased.

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  • 11. 

    Which of the following are examples of instance-level information relevant to the procurement process?

    • Was the invoice paid? if so, when?

    • What was the total of the invoice?

    • How long did it take to receive the shipment after creating a purchase order?

    • What materials are purchased most frequently?

    Correct Answer(s)
    A. Was the invoice paid? if so, when?
    A. What was the total of the invoice?
    A. How long did it take to receive the shipment after creating a purchase order?
    Explanation
    The given answer includes examples of instance-level information relevant to the procurement process. These examples involve specific instances or occurrences within the process, such as whether the invoice was paid and when, the total amount of the invoice, and the time it took to receive the shipment after creating a purchase order. These details are specific to individual transactions and provide important information for tracking and managing the procurement process.

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  • 12. 

    Which of the following are key data in an invoice?

    • FOB

    • Order and received quantity

    • Price of material ordered

    • Invoice date

    • Requested delivery date

    Correct Answer(s)
    A. FOB
    A. Price of material ordered
    A. Invoice date
    Explanation
    The key data in an invoice include FOB (Free on Board) which indicates the point at which the seller is no longer responsible for the goods, the price of the material ordered, and the invoice date which is the date the invoice is issued. These data are important for tracking the cost, ownership, and payment of the goods.

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  • 13. 

    Which of the following are examples of process-level information relevant to the procurement process? 

    • Which customers are prompt and which ones are habitually late in sending the payment?

    • Which materials are produced most often?

    • Which materials are purchased most frequently?

    • What is the average time between sending a purchase order and receiving the shipment?

    • Which vendor does SSB buy from the most frequently?

    Correct Answer(s)
    A. Which materials are purchased most frequently?
    A. What is the average time between sending a purchase order and receiving the shipment?
    A. Which vendor does SSB buy from the most frequently?
    Explanation
    The given answer is correct because it includes examples of process-level information relevant to the procurement process. Knowing which materials are purchased most frequently helps in identifying the demand and planning the procurement strategy accordingly. Understanding the average time between sending a purchase order and receiving the shipment helps in evaluating the efficiency of the procurement process and identifying any delays. Knowing which vendor SSB buys from the most frequently helps in managing supplier relationships and negotiating better terms.

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  • 14. 

    Which of the following are examples of process-level information relevant to the procurement process?

    • What is the average time between sending a purchase order and receiving the shipment?

    • Which suppliers are prompt and which ones are habitually late in delivering the materials ordered?

    • Which customer buys most frequently?

    • Which materials are purchased most frequently?

    • Which materials are produced most often?

    Correct Answer(s)
    A. What is the average time between sending a purchase order and receiving the shipment?
    A. Which suppliers are prompt and which ones are habitually late in delivering the materials ordered?
    A. Which materials are purchased most frequently?
    Explanation
    The given answer includes examples of process-level information relevant to the procurement process. These examples involve tracking the average time between sending a purchase order and receiving the shipment, identifying suppliers based on their delivery promptness, and determining the frequency of purchasing materials. These pieces of information help in evaluating the efficiency of the procurement process, managing supplier relationships, and identifying material requirements.

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  • 15. 

    Which of the following are key data in a packing list?

    • Order and ship quantity

    • Date the order was shipped

    • Prices of the material ordered

    • Unit weight

    • Requested delivery date

    Correct Answer(s)
    A. Order and ship quantity
    A. Date the order was shipped
    A. Unit weight
    Explanation
    The key data in a packing list includes the order and ship quantity, date the order was shipped, and unit weight. These details are crucial for accurately documenting and tracking the items being packed and shipped. The order and ship quantity specify the number of items ordered and the quantity that is being shipped. The date the order was shipped is important for record-keeping and logistics purposes. The unit weight provides information about the weight of each item, which is necessary for calculating shipping costs and ensuring proper handling during transportation.

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Quiz Review Timeline (Updated): Aug 25, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Aug 25, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Mar 01, 2015
    Quiz Created by
    Mcrabill1

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