NPMA CPPS Practice Test 100% Solved 2024

NPMA CPPS Practice Test 100% Solved 2024 What is the document most organizations use that describes and conveys the process steps taken to produce a desired result? - Answer- Procedure Which of the following terms means "to possess and have use of property of another with delegated responsibilities"? - Answer- Accountability What element is crucial to the entire process of the property control system? - Answer- Records When does the Acquisition begin? - Answer- Needs have been defined What is the first step of the approval process when making a purchase? - Answer- Obtaining approval to spend budgeted organizational funds 3. When a decision has been made to buy new equipment, considerations should be decided, such as: immediate availability, extended service warranties, and _________. - Answer- Advanced technology When a Purchase Order has been completed, Purchasing should provide a copy of the Purchase Order to property management, the originator, accounts payable, and what other department? - Answer- Receiving What establishes delegation of authority for signature approval thresholds and types of property for those signature levels? - Answer- Organization procedure In organizations having online financial systems, documentation is created electronically and is retained in the system's transaction history. It is often used as part of a three-way match of transactions prior to payment: the PO, the receiving documentation, and the ___________. - Answer- Invoice A ________________________ provides receiving activity information as well as a way to trace items that are lost or misappropriated during the receiving process or during delivery from the receiving area. - Answer- Receiving voucher log What is a disadvantage of centralized receiving? - Answer- Slower turn-around time for deliveries What information is NOT typically recorded in a receiving voucher log? - Answer- Purchasing department order date and cost Why is it important that the Receiving department inspect for damage? - Answer- Provide information for a potential return of the item to the vendor