Finance And IT Inventory Adjustment

By Dolores.pope
Dolores.pope, Business management
Dolores, a proficient Business Management System Manager, excels in overseeing and optimizing business processes, ensuring efficiency and effectiveness for organizational success.
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, Business management
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Questions: 12 | Attempts: 112

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Finance And IT Inventory Adjustment - Quiz

This quiz ensures that employees are aware of the processes and responsibilities with regards to Inventory Adjustments.


Questions and Answers
  • 1. 

    Make adjustments of non conforming product using the ___________ module  in MISys

    Explanation
    The correct answer is "Dispense Stock". In MISys, the "Dispense Stock" module is used to make adjustments to non-conforming products. This module allows users to remove or dispense stock that does not meet the required standards or specifications. By using this module, companies can ensure that non-conforming products are properly accounted for and removed from inventory, helping to maintain quality control and prevent the distribution of faulty products.

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  • 2. 

    Identify product as obsolete and disposition as per authorized instructions in accordance with procedure-______________________________

    Explanation
    The correct answer is "Control of Non-Conforming Products". This refers to the process of identifying products that do not meet the required standards or specifications and taking appropriate actions as per authorized instructions. This may include disposing of the obsolete products or implementing corrective measures to bring them into compliance. The control of non-conforming products is an important aspect of quality management to ensure that only conforming products are delivered to customers.

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  • 3. 

    Re-enter stock into _____ and generate a costing sheet

    Explanation
    The correct answer is any variation of MISys, MISYS, misys, MISIS, Mysis, mysis, or MySis. These variations all refer to the same software program that is being referred to in the question.

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  • 4. 

    True or False: The Production Manager submits a copy of the non conforming product listing/inventory adjustments form to I/C clerk (accounts) in order for verification of transaction to take place

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The Production Manager submits a copy of the non conforming product listing/inventory adjustments form to the I/C clerk (accounts) in order for verification of the transaction to take place. This suggests that the statement is true.

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  • 5. 

    Enter Non-Conforming Product Adjustments on the Non-Conforming Product Listing/_____________ Form

    Correct Answer
    Inventory Adjustments
    Inventory adjustments
    inventory adjustments
    INVENTORY ADJUSTMENTS
    Explanation
    The correct answer is "Inventory Adjustments". This answer is correct because it matches the given statement in the question, which states that non-conforming product adjustments should be entered on the "Non-Conforming Product Listing/Inventory Adjustments Form". The answer also includes variations of capitalization, showing that the correct term can be written in different ways.

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  • 6. 

    The Distribution Clerk issues authorization to the ___________________ to transfer stock from WMS to located WHSD

    Correct Answer
    Distribution Assistant
    Distribution assistant
    distribution assistant
    Explanation
    The Distribution Clerk issues authorization to the distribution assistant to transfer stock from WMS to located WHSD. The distribution assistant is responsible for handling the distribution of stock and ensuring that it is transferred correctly from the warehouse management system (WMS) to the designated location, which is the located WHSD. The distribution assistant plays a key role in the efficient movement of stock within the organization.

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  • 7. 

    With regards to transfer on non-conforming product- warehouse to company store; use the _____________ module to describe action and select and enter item and quantity

    Correct Answer
    Transfer Transaction Module
    transfer transaction module
    Transfer Transaction
    transfer transaction
    Transfer transaction
    TRANSFER TRANSACTION
    Explanation
    The correct answer is "Transfer Transaction Module". This module is used to describe the action of transferring non-conforming products from the warehouse to the company store. It allows the user to select and enter the item and quantity that is being transferred.

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  • 8. 

    True or False. The next step upon receiving a request for inventory adjustment is to make the necessary changes to the database and return copy of the actioned form to the originator as confirmation that the process has been completed.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Upon receiving a request for inventory adjustment, the next step is to make the necessary changes to the database and return a copy of the actioned form to the originator as confirmation that the process has been completed. This means that the statement "The next step upon receiving a request for inventory adjustment is to make the necessary changes to the database and return copy of the actioned form to the originator as confirmation that the process has been completed" is true.

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  • 9. 

    Upon completion of the electronic transaction, the Distribution Clerk will notify you that an inventory adjustment has been made via the Non-Conforming Product Listing/________________ form.

    Correct Answer
    Inventory Adjustments
    Inventory adjustments
    inventory adjustments
    Inventory Adjustement
    Inventory adjustment
    inventory adjustment
    INVENTORY ADJUSTMENT
    INVENTORY ADJUSTMENTS
    Explanation
    Upon completion of the electronic transaction, the Distribution Clerk will notify you that an inventory adjustment has been made via the Non-Conforming Product Listing/Inventory Adjustments form.

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  • 10. 

    The Sales Associate raises requisite adjustments using the Non Conforming Product Listing/__________ form

    Correct Answer
    Inventory Adjustment
    Inventory adjustment
    INVENTORY ADJUSTMENT
    inventory adjustment
    Explanation
    The Sales Associate raises requisite adjustments using the Non Conforming Product Listing/Inventory Adjustment form. This form allows the Sales Associate to document any discrepancies or issues with the inventory, such as damaged or expired products, and request necessary adjustments to correct the inventory records. By using this form, the Sales Associate ensures that all necessary adjustments are properly documented and addressed.

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  • 11. 

    On Completing the form, the assigned Sales Associate signs and obtains the necessary authorization signature/s and forwards the documentation to the ____________________

    Correct Answer
    Inventory Control Clerk
    Accounts
    Inventory Control Clerk (Accounts)
    inventory control clerk
    INVENTORY CONTROL CLERK
    Explanation
    The correct answer is "Inventory Control Clerk". This is because the form is being completed and signed by the Sales Associate, who then forwards the documentation to the Inventory Control Clerk for further processing. The Accounts department is not mentioned in relation to receiving the documentation, so it is not the correct answer.

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  • 12. 

    Return signed copy of the transfer form to the ___________

    Correct Answer
    Warehouse
    warehouse
    WAREHOUSE
    Explanation
    The correct answer is "Warehouse, warehouse, WAREHOUSE" because the question is asking for the place where the signed copy of the transfer form should be returned. The word "warehouse" is repeated three times, likely to emphasize the importance of returning the form to the correct location. The use of different capitalization (lowercase and uppercase) suggests that the answer is not case-sensitive, meaning it can be written in any form of capitalization.

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Dolores.pope |Business management |
Dolores, a proficient Business Management System Manager, excels in overseeing and optimizing business processes, ensuring efficiency and effectiveness for organizational success.
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