NPMA CPPS Practice Test And Answers 100% Correct

NPMA CPPS Practice Test And Answers 100% Correct What is the document most organizations use that describes and conveys the process steps taken to produce a desired result? - ANSWERSProcedure Which of the following terms means "to possess and have use of property of another with delegated responsibilities"? - ANSWERSAccountability What element is crucial to the entire process of the property control system? - ANSWERSRecords When does the Acqu isition begin? - ANSWERSNeeds have been defined What is the first step of the approval process when making a purchase? - ANSWERSObtaining approval to spend budgeted organizational funds 3. When a decision has been made to buy new equipment, consideration s should be decided, such as: immediate availability, extended service warranties, and _________. - ANSWERSAdvanced technology When a Purchase Order has been completed, Purchasing should provide a copy of the Purchase Order to property management, the ori ginator, accounts payable, and what other department? - ANSWERSReceiving What establishes delegation of authority for signature approval thresholds and types of property for those signature levels? - ANSWERSOrganization 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 ___________. - ANSWERSInvoice 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. - ANSWERSReceiving voucher log What is a disadvantage of centralized receiving? - ANSWERSSlower turn -around time for deliveries What information is NOT typically recorded in a receiving voucher log? - ANSWERSPurchasing department order date and cost Why is it important that the Receiv ing department inspect for damage? - ANSWERSProvide information for a potential return of the item to the vendor What is one accomplishment by tagging of new, incoming property? - ANSWERSEstablishes the official record for that item Types of property tha t generally require serialized tags are: - ANSWERSGovernment property sensitive property