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Which of the following indicates the ratio between profit and costs?
Which of the following indicates the ratio between profit and costs?A . Gearing B. Margin C. Mark-up D. LiquidityView AnswerAnswer: C Explanation: Mark up is the profit as a percentage of total costs. LO 3, AC 3.3
Governance
GovernanceA . 2 and 3 only B. 1 and 2 only C. 1 and 4 only D. 3 and 4 onlyView AnswerAnswer: A Explanation: Information Assurance (IA) Information Assurance (IA) is the practice of managing information-related risks and the steps involved to protect information systems such as computer and network...
Which of the following are examples of incentives which can be embedded in contract terms? Select THREE that apply
Which of the following are examples of incentives which can be embedded in contract terms? Select THREE that applyA . Gainshare B. Indemnity C. Contract extensions D. Service credits E. Liquidated damages F. Faster paymentView AnswerAnswer: A,C,F Explanation: Gainsharing is a system of management used by a business to increase...
The model form contract invented by Institute of Civil Engineers is...?
The model form contract invented by Institute of Civil Engineers is...?A . NEC B. IMechE/IET C. FIDIC D. JCTView AnswerAnswer: A Explanation: NEC - New Engineering Contracts is a family of contracts invented by Institute of Civil Engineers. The contracts are suitable for procuring a diverse range of works, services...
Which of the following is used to detail the complex matter that may be verbiage to the main document?
Which of the following is used to detail the complex matter that may be verbiage to the main document?A . Contract variation B. Schedule C. Subcontracting D. Standard terms and conditionsView AnswerAnswer: B Explanation: Without further explanation, a schedule may be deemed to form an integral part of the obligations...
Non-disclosure
Non-disclosureA . 3 and 4 only B. 1 and 4 only C. 1 and 2 only D. 2 and 3 onlyView AnswerAnswer: D Explanation: There are a number of ways for an offer to be terminated. They are events that may occur after an offer has been made which bring...
A procurement manager is preparing a long-term contract with a major supplier. She decides to use the variable pricing arrangement using price indices. The payment terms describe the circumstances and mechanism where the price is allowed to change. In order to successfully manage this type of contract, the buying organisation should have...?
A procurement manager is preparing a long-term contract with a major supplier. She decides to use the variable pricing arrangement using price indices. The payment terms describe the circumstances and mechanism where the price is allowed to change. In order to successfully manage this type of contract, the buying organisation...
Non-disclosure
Non-disclosureA . 3 and 4 only B. 1 and 4 only C. 1 and 2 only D. 2 and 3 onlyView AnswerAnswer: D Explanation: There are a number of ways for an offer to be terminated. They are events that may occur after an offer has been made which bring...
According to rule of contract formation, which of the following is a valid acceptance?
According to rule of contract formation, which of the following is a valid acceptance?A . The person orally agrees to pay the offered price B. The person states that she is able to pay the offered price C. The person asks for a lower price D. The person says that...
According to rule of contract formation, which of the following is a valid acceptance?
According to rule of contract formation, which of the following is a valid acceptance?A . The person orally agrees to pay the offered price B. The person states that she is able to pay the offered price C. The person asks for a lower price D. The person says that...
