INMT exam 1 practice questions and answers 100% correct

INMT exam 1 practice questions and answers 100% correct an internal document used to ask the purchasing department to buy some needed item is called purchase request a purchase order is considered open until goods are received and liability is recorded 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 to order goods from a vendor, which would of these would you create last purchase order which of the following source documents could be created by a company during the OTC business process [sales invoice, receiving report, return merchandise authorization, purchase request, service level agreement] sales invoice, service level agreement, return merchandise agreement specific invoicing no the company does not do this service level agreement yes the company does this lockboxes yes the company does this purchase request this does not apply to the described process (its PTP) 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 Which business event in the Procure‐to‐Pay process triggers two information processing responses? receive and inspect goods from vendor A "blind" copy of the purchase order would most likely be sent to which department? receiving department When does a purchase request become closed? when it gets denied or when it gets approved Which of the following inventory management control options is designed to maintain the lowest amount of inventory on hand? just in time two way match yes this company does this balance forward approach does not apply to the described process (PTP) advanced shipping notice no the company does not use this