INMT 341 Test 1 UPDATED Questions and CORRECT Answers
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Course
INMT 341
Institution
INMT 341
INMT 341 Test 1 UPDATED Questions and
CORRECT Answers
Internal Agent - CORRECT ANSWER- Agents acting within the company; employees;
salespeople, cashiers, receiving dock workers, purchasing agents, etc.
External Agents - CORRECT ANSWER- An outside person, unit, system, or an organization
th...
INMT 341 Test 1 UPDATED Questions and
CORRECT Answers
Internal Agent - CORRECT ANSWER- Agents acting within the company; employees;
salespeople, cashiers, receiving dock workers, purchasing agents, etc.
External Agents - CORRECT ANSWER- An outside person, unit, system, or an organization
that interacts with the system ie. customers, vendors, banks
Order to Cash Business Events - CORRECT ANSWER- 1. Market goods/services
2. Negotiate sales order
3. Select & Inspect goods
4. Prepare goods for delivery
5. Deliver goods/services
6. Receive payment
7. Accept customer return of goods
Procure to Pay Business Events - CORRECT ANSWER- 1. Identify Need
2. Negotiate
3. Receive and Inspect Goods
4. Store and Maintain Goods
5. Pay Vendor
6. Returns (sometimes)
Event Trigger - CORRECT ANSWER- an action which initiates or authorizes an event
Extended Enterprise Business Processes - CORRECT ANSWER- processes that are not only
linked within an organization but business processes span organization boundaries
, Linkages - CORRECT ANSWER- In Porter's model of business activities, interactions
across value chain activities.
Michael Porter - CORRECT ANSWER- Harvard Business School professor who is said to
be "the single most important strategist working today, and maybe of all time,"
Primary activities in the value chain - CORRECT ANSWER- 1. inbound logistics
2. operations
3. outbound logistics
4. marketing and sales
5. service
Support Activities in the Value Chain - CORRECT ANSWER- firm infrastructure, human
resource management, technology development, procurement
Automatic Clearing House - CORRECT ANSWER- Order to Cash, banks settle charges
happens during bank verification in receive payment event
Backorder - CORRECT ANSWER- Order to Cash, a customer order that cannot be filled
when promised or demanded but is filled later
balance-forward method - CORRECT ANSWER- Order to Cash, customers typically pay
according to the amount shown on a monthly statement, rather than by individual invoices, when
customer is issued invoice
bill of lading - CORRECT ANSWER- Order to Cash, document issued by a transport carrier
to an exporter to prove that merchandise has been shipped
Cash Receipts Transaction Data Store - CORRECT ANSWER- records data about each
remittance by adding a record to data store
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