New World ERP - FM - Purchase Orders

10 Questions | By LogosAssessments | Last updated: Mar 20, 2022 | Total Attempts: 193

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Congratulations on completing Purchase Order training! Now that you've been introduced to basic Purchase Order processing, you should be able to pass with 80% or better accuracy. Good luck!

Questions and Answers

1.

What is required to post a purchase order?
- A.
  
  The purchase order has been validated.
- B.
  
  All required approvals have been given.
- C.
  
  The purchase order has been printed.
- D.
  
  All of the above.
2.

To enter a new purchase order, the proper navigations is:
- A.
  
  Financial Management > Procurement > Purchasing > Purchase Orders.
- B.
  
  Financial Management > Inquiries > Requisitions.
- C.
  
  Financial Management > Reports > Purchasing > Requisition Report.
- D.
  
  Financial Management > Inquiries > Vendors.
3.

How can multiple General Ledger accounts be attached to a single item on a purchase order?
- A.
  
  By creating multiple purchase orders.
- B.
  
  By creating multiple items on the purchase order and assign a different G/L account to each of them.
- C.
  
  By using the Multiple G/L Account Distribution icon next to the GL Account field in Purchase Order entry.
- D.
  
  All of the above.
4.

What is the correct path for inquiring on a purchase order related to a specific requisition?
- A.
  
  Financial Management > Purchase Orders > Purchase Order Inquiry > Advanced Search.
- B.
  
  Financial Management > Reports > Requisition Report.
- C.
  
  Financial Management > Inquiries > Requisitions > Locate Requisition > Detail > PO Icon.
- D.
  
  Any of the above.
5.

Which path will lead to the location of approvers for a particular purchase order?
- A.
  
  Financial Management > Inquiries > Requisition Inquiry > Access the Requisition > Select Approvals.
- B.
  
  Financial Management > Inquiries > Purchase Order Inquiry > Access Purchase Order > Select Approvals.
- C.
  
  Financial Management > Reports > Purchasing > Purchase Orders by G/L Distribution Report.
- D.
  
  All of the above.
6.

How can the existing requisitions and purchase orders associated with a specific vendor be located?
- A.
  
  Financial Management > Inquiries > Requisitions > Select the Advanced Search Icon > Input the Vendor.
- B.
  
  Financial Management > Inquiries > Vendors > Locate the Vendor. All Purchase Orders and Requisitions can be seen for the vendor by clicking on the Requisition or Purchase Order icons beneath the Vendor Name.
- C.
  
  Financial Management > Reports > Purchasing > Purchase Order Report.
- D.
  
  Both A & B.
7.

Which page in new world ERP will allow for the completion of a purchase order if is it not going to be closed through accounts payable?
- A.
  
  Financial Management > Procurement > Purchasing > Purchase Orders.
- B.
  
  Financial Management > Procurement > Purchasing > Department Approved Requisitions.
- C.
  
  Financial Management > Procurement > Purchasing > Change Purchase Orders.
- D.
  
  The Balance Sheet.
8.

Can a project be assigned to a purchase order?
- A.
  
  Yes, a project can always be assigned if the general ledger account entered for the purchase order or requisitions allows for Projects.
- B.
  
  No, a project cannot be assigned until the requisition becomes a purchase order.
- C.
  
  No, projects cannot be assigned until the invoice is received.
- D.
  
  All of the above.
9.

How is the amount of a purchase order item calculated?
- A.
  
  (Quantity) x (Unit of Measure)
- B.
  
  (Quantity) x (Price Per Unit)
- C.
  
  Price Per Unit only, quantity is not used
- D.
  
  None of the above.
10.

A purchase order can be posted before it is printed and sent to myReports.
- A.
  
  True.
- B.
  
  False.