Question: Please help me answer these question, thank you ! 1. Goods receipt can be only for materials received as stock items. a. True b. False

Please help me answer these question, thank you !

1. Goods receipt can be only for materials received as stock items.

a. True

b. False

2. A reservation is a request to deliver a material for a production order, sales order, etc.

a.True

b. False

3. GR/IR stands for...

a.

Goods Resale/Inventory Resale

b.

Goods Receipt/Invoice Receipt

c.

Goods Restock/Inventory Resale

d.

General Rebate/Involuntary Rebate

4. The following are all basic Procurement processes except...

a.

Vendor Selection

b.

Purchase Requisition Determination

c.

Customer Invoicing

d.

Invoice Verification

e.

Purchase Order Processing

5. Purchase requisitions can only be created manually.

a. True

b. False

6. When an invoice payment is made, accounting information is updated.

a. True

b. False

7. In a competitive bidding process, a comparison of the material or service prices are compared.

a. True

b. False

8. Release orders cannot be generated off an MRP run.

a. True

b. False

9. A vendor contact will typically specify a negotiated price or quantity of a material or service

a. True

b. False

10. All posted transactions must have a unique number assigned

a. True

b. False

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