P2p10 - Vendor Master – Kc

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| By Timothy Johnson
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Timothy Johnson
Community Contributor
Quizzes Created: 9 | Total Attempts: 4,366
| Attempts: 174
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  • 1/5 Questions

    Which of the following is a type of data level in the Vendor Master?

    • General Data
    • Purchasing Date
    • Company Code Data
    • All of the above
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Copyright 2011 by Lawson Products, Inc. All rights reserved.

P2p10 - Vendor Master Kc - Quiz

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  • 2. 

    What happens when the deletion indicator is set for a Vendor Master?

    • All records relating to that vendor are deleted.

    • The vendor is closed and sent an automated letter stating that they have been deleted.

    • When this vendor a selected, there is an warning message shown that the vendor has been flagged for deletion.

    • None of the above

    Correct Answer
    A. When this vendor a selected, there is an warning message shown that the vendor has been flagged for deletion.
    Explanation
    When the deletion indicator is set for a Vendor Master, a warning message is shown when the vendor is selected, indicating that the vendor has been flagged for deletion.

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  • 3. 

    What does a Purchasing Info Record tie together?

    • Vendor, Price and Invoice

    • Invoice and Payment Status

    • Vendor and Order History

    • Vendor, Material, and Material Price

    Correct Answer
    A. Vendor, Material, and Material Price
    Explanation
    A Purchasing Info Record ties together the vendor, material, and material price. This record contains important information such as the vendor's details, the material being purchased, and the price at which the material is being procured. This information helps in maintaining a record of the purchasing history and enables efficient procurement processes.

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  • 4. 

    What purpose does a source list serve?

    • Lists all prices for a material.

    • Shows available vendors for a material and shows the fixed vendor.

    • Lists all documents relating to a material (Purchase Requisitions, Purchase Orders, Invoices, Goods Receipts, etc)

    • None of the above

    Correct Answer
    A. Shows available vendors for a material and shows the fixed vendor.
    Explanation
    A source list serves the purpose of showing available vendors for a material and also indicates the fixed vendor. It helps in identifying the potential suppliers or vendors for a specific material and also highlights the preferred or fixed vendor for that material. This information is crucial for procurement and supply chain management as it allows for efficient decision-making and helps in maintaining a reliable and consistent supply of materials.

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  • 5. 

    What are two key fields being judged for vendor evaluation?

    • Price and Quality

    • Quality and Delivery

    • Delivery and Price

    • Quantity and Quality

    Correct Answer
    A. Delivery and Price
    Explanation
    The two key fields being judged for vendor evaluation are delivery and price. These factors are crucial in determining the effectiveness and efficiency of a vendor. Delivery refers to the vendor's ability to provide products or services on time and in the desired quantity, while price refers to the cost of these products or services. Evaluating these two fields helps in assessing the vendor's reliability, timeliness, and affordability.

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  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jun 21, 2011
    Quiz Created by
    Timothy Johnson
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