Purchase Requisition Process Quiz

Play an AI-generated podcast conversation about this lesson

What is the primary responsibility of the originating department regarding purchase requisitions?

Maximize the number of purchase requisitions to meet budgetary control purposes

Ensure requisitioned expenditure is within the procurement plan and complies with policies (correct)

Split transactions to circumvent approval limits

Obtain approval from multiple departments for each requisition

Under what circumstances will multiple Purchase Requisitions and Orders be considered as one transaction?

When the transactions are from different Business Units

When the transactions exceed the approval limits

When the transactions are for different equipment/projects

When the transactions are of a similar nature over a closely related time period (correct)

Who is responsible for reviewing every requisition according to the text?

Procurement manager only

Budget owner and CEO

Immediate supervisor of the person making the requisition and budget owner (correct)

Finance department

What is prohibited to circumvent approval limits according to DFA?

Splitting transactions Signup and view all the answers

What are the competitive tendering approval limits for NNPC Limited Board according to the text?

>$100m Signup and view all the answers

Who approves single source contracts at NNPC Limited?

Level 1 Tenders Committee (Company Tender Committee) Signup and view all the answers

What must every requisition be reviewed by, according to the text?

Immediate supervisor of person making requisition and budget owner Signup and view all the answers

What is considered as one transaction for purchase requisitions?

Transactions of similar nature over a closely related time period Signup and view all the answers

What is the primary purpose of the Purchase Requisition process?

To initiate and approve procurement needs Signup and view all the answers

What is the main consideration for approval decisions in the Purchase Requisition process?

Threshold amounts and preferred vendors Signup and view all the answers

What is required to initiate the procurement requisition process according to the Purchase Requisition Policies?

Assessment based on the approved annual procurement plan and corresponding budget Signup and view all the answers

What do the objectives of the Purchase Requisition process aim to ensure regarding procurement needs?

Duly reviewed and approved commitment of resources Signup and view all the answers

What is prohibited when initiating the procurement requisition process according to the text?

Initiating requests without assessing the approved annual procurement plan and corresponding budget Signup and view all the answers

What does the Purchase Requisition process cover in terms of approval workflow?

Automated approval workflow and manual approvals primarily by the business partner Signup and view all the answers

What is essential to guide subsequent procurement-related activities according to the objectives of the Purchase Requisition process?

Provision of key information required for subsequent procurement-related activities Signup and view all the answers

What is considered before converting a requisition to a purchase order in the Purchase Requisition process?

Review and approval of the requisition Signup and view all the answers

Purchase Requisition Process Quiz

Podcast Beta

Questions and Answers