Purchases of Stock Items: Assessment Test Questions

  1. Why might you need to enter a purchase order in Acumatica ERP?
    • To record a purchase of stock items
    • To track the delivery status of the ordered goods and services
    • To calculate the cost of purchased goods and services
    • To perform a physical inventory count

  2. What happens when you release a purchase receipt created from a purchase order?

    • The system automatically generates a corresponding inventory receipt with the date and posting period of the purchase receipt.
    • The system creates an inventory issue and releases it.
    • The purchase order is assigned the Pending Approval status.
    • The vendor's balance in the system is increased by the amount to be paid for the received goods.
  3. What status does a purchase order receive when all lines have been received in full?
    • Completed
    • Open
    • Pending
    • Canceled
  4. What status does a purchase order receive when all lines have been received and billed in full?
    • Closed
    • Open
    • Pending
    • Canceled
  5. What are the steps in the process of purchasing stock items? (Select all the correct responses.)
    • Entry of a purchase order
    • Processing of the purchase receipt
    • Processing of an AP bill
    • Processing of the inventory issue
    • Creation of an invoice