Page 1 of 37
UTK INMT 341 Exam 1 ALL 200 QUESTIONS
AND CORRECT ANSWERS LATEST UPDATE THIS
YEAR
What source document(s) is/are created in the "Negotiate Return of Goods from Customer"
event?
Return Merchandise Authorization (RMA)
What source document(s) is/are created in the "Receive Payment from Customer" event?
Customer Receipt
What source document(s) is/are created in the "Identify a Need" event?
Purchase Request
What source document(s) is/are created in the "Negotiate a Purchase Order" event?
Valid Open Purchase Order, Quote or Proposal, Service Level Agreement
What source document(s) is/are created in the "Receive and Inspect Goods" event?
Receiving Report, Advanced Shipping Notice (ANS), Vendor Invoice
What source document(s) is/are created in the "Pay Vendor" event?
Vendor Invoice, Remittance Advice, Customer Receipt
1
, Page 2 of 37
What source document(s) is/are created in the "Negotiate Return of Goods" event?
Return Merchandise Authorization (RMA)
What does a Service Level Agreement establish for goods? What about for services?
Ensures goods are delivered undamaged or services meet certain expectations
In the "Receive and Inspect Goods" event, which of the following source documents cannot
be created at the same time?
Vendor Invoice and Advanced Shipping Notice
A Picking Slip (used in the warehouse) contains the same information as what source
document?
Sales Order
The Remittance Advice source document usually is delivered with which source document?
Sales or Vendor Invoice
What is the difference between a Quote and Proposal?
One is for goods, the other is for services
Which of the following is not a function that needs to be separated from other functions
based on an ideal separation of duties model?
Reporting
2
, Page 3 of 37
What is the primary goal of the Order-to-Cash process?
Sell goods/services to make a profit
What is the primary goal of the Procure-to-Pay process?
Get goods or services where we need them, when we need them
What source document(s) is/are created in the "Market Goods/Services" event?
Quote, Proposal, Service Level Agreement
What source document(s) is/are created in the "Negotiate Sales Order" event?
Picking Slip, Valid Open Sales Order, Service Level Agreement
What source document(s) is/are created in the "Fulfillment" event?
Advanced Shipping Notice (ANS), Packing Slip, Bill of Lading, Sales Invoice, Remittance Advice,
Customer Order
Which business event in the Procure‐to‐Pay process triggers two information processing
responses?
Receive goods from vendor
A "blind" copy of the purchase order would most likely be sent to which department?
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, Page 4 of 37
Receiving department
Which of the following inventory management control options is designed to maintain the
lowest amount of inventory on hand?
Just in time
Of the business processes, the _______ business process is most diverse across a variety of
companies.
Conversion
Which of the following inventory management theories is based off forecasts?
Materials Requirements Planning
what are the two distinct worlds - ANSWER-reality and information
QUESTION: what is our goal - ANSWER-to understand how organizations strive to create
information systems that accurately represent reality
QUESTION: a business process is - ANSWER-set of related activities performed by a group of
stakeholders to acheive a concrete goal
4
UTK INMT 341 Exam 1 ALL 200 QUESTIONS
AND CORRECT ANSWERS LATEST UPDATE THIS
YEAR
What source document(s) is/are created in the "Negotiate Return of Goods from Customer"
event?
Return Merchandise Authorization (RMA)
What source document(s) is/are created in the "Receive Payment from Customer" event?
Customer Receipt
What source document(s) is/are created in the "Identify a Need" event?
Purchase Request
What source document(s) is/are created in the "Negotiate a Purchase Order" event?
Valid Open Purchase Order, Quote or Proposal, Service Level Agreement
What source document(s) is/are created in the "Receive and Inspect Goods" event?
Receiving Report, Advanced Shipping Notice (ANS), Vendor Invoice
What source document(s) is/are created in the "Pay Vendor" event?
Vendor Invoice, Remittance Advice, Customer Receipt
1
, Page 2 of 37
What source document(s) is/are created in the "Negotiate Return of Goods" event?
Return Merchandise Authorization (RMA)
What does a Service Level Agreement establish for goods? What about for services?
Ensures goods are delivered undamaged or services meet certain expectations
In the "Receive and Inspect Goods" event, which of the following source documents cannot
be created at the same time?
Vendor Invoice and Advanced Shipping Notice
A Picking Slip (used in the warehouse) contains the same information as what source
document?
Sales Order
The Remittance Advice source document usually is delivered with which source document?
Sales or Vendor Invoice
What is the difference between a Quote and Proposal?
One is for goods, the other is for services
Which of the following is not a function that needs to be separated from other functions
based on an ideal separation of duties model?
Reporting
2
, Page 3 of 37
What is the primary goal of the Order-to-Cash process?
Sell goods/services to make a profit
What is the primary goal of the Procure-to-Pay process?
Get goods or services where we need them, when we need them
What source document(s) is/are created in the "Market Goods/Services" event?
Quote, Proposal, Service Level Agreement
What source document(s) is/are created in the "Negotiate Sales Order" event?
Picking Slip, Valid Open Sales Order, Service Level Agreement
What source document(s) is/are created in the "Fulfillment" event?
Advanced Shipping Notice (ANS), Packing Slip, Bill of Lading, Sales Invoice, Remittance Advice,
Customer Order
Which business event in the Procure‐to‐Pay process triggers two information processing
responses?
Receive goods from vendor
A "blind" copy of the purchase order would most likely be sent to which department?
3
, Page 4 of 37
Receiving department
Which of the following inventory management control options is designed to maintain the
lowest amount of inventory on hand?
Just in time
Of the business processes, the _______ business process is most diverse across a variety of
companies.
Conversion
Which of the following inventory management theories is based off forecasts?
Materials Requirements Planning
what are the two distinct worlds - ANSWER-reality and information
QUESTION: what is our goal - ANSWER-to understand how organizations strive to create
information systems that accurately represent reality
QUESTION: a business process is - ANSWER-set of related activities performed by a group of
stakeholders to acheive a concrete goal
4
