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'Open tendering may impose a substantial administrative burden on the procurement function.' True or false?
'Open tendering may impose a substantial administrative burden on the procurement function.' True or false?A . TrueB . FalseView AnswerAnswer: A Explanation: Because a wide range of organisations (or even individuals) may respond to an open tender, considerable administrative resource may have to be devoted to analysing offers.
The primary objective of a private sector organisation is...
The primary objective of a private sector organisation is...A . To boost national prestigeB . To make profitC . To provide servicesD . To create jobsView AnswerAnswer: B Explanation: The primary objective of private sector is to create profit(s). While the other answers may occur in private sector, they are...
Fiscal policy deals with:
Fiscal policy deals with:A . Government decisions and actions regarding the number of staff members employed in the government TreasuryB . Government decisions and actions regarding the level of interest rates and supply of money in the economyC . Government decisions and actions regarding the balance between taxation revenue and...
Thinking of Michael Porter’s Industry Structure Analysis (commonly referred to as Five Forces Analysis), the content of the centre circle is about:
Thinking of Michael Porter’s Industry Structure Analysis (commonly referred to as Five Forces Analysis), the content of the centre circle is about:A . Governmental regulation of competition within an economyB . Competitive rivalry within the industryC . Governmental interference in an industryD . Competitor price-cutting to increase market shareView AnswerAnswer:...
Think carefully.
Think carefully. There is low consumer demand; production capacity is unused; prices are stable or are falling; busi-ness profits are low; unemployment is high; and business confidence is low. Is this:A . RecoveryB . RecessionC . BoomD . DepressionView AnswerAnswer: D Explanation: This is a description of a depression -...
Doing the same with fewer resources is:
Doing the same with fewer resources is:A . EfficiencyB . EffectivenessC . EconomyD . Efficiency.View AnswerAnswer: A Explanation: Economy is most easily thought of as paying less, hopefully with no loss of quality, service, etc Effectiveness is most easily thought of as achieving the right outputs. What one really seeks...
In terms of interest rates, the ‘base rate’ is:
In terms of interest rates, the ‘base rate’ is:A . The interest rate set by government or the central bank of a countryB . The interest rate stated within a contract of supply for late paymentsC . The interest rate payable on a loan for the procurement of a new...
A contract clause which entitles the buyer to hold back 5% of the final price for six months to en-sure everything is in order is known as a --------- clause:
A contract clause which entitles the buyer to hold back 5% of the final price for six months to en-sure everything is in order is known as a --------- clause:A . RetentionB . RedemptionC . IntentionD . RetainerView AnswerAnswer: A Explanation: 'Retention' - from the word 'retain', meaning to 'keep...
The total variety of life on Earth’ is CIPS’ definition of:
The total variety of life on Earth’ is CIPS’ definition of:A . Depletion of renewablesB . BiodiversityC . The environmentD . Corporate Social ResponsibilityView AnswerAnswer: B Explanation: Biodiversity is significantly under threat, with many species being lost almost daily on Earth. The other answers given in response to this question,...
'Shareholders are an example of stakeholders'. True or false?
'Shareholders are an example of stakeholders'. True or false?A . TrueB . FalseView AnswerAnswer: A Explanation: Shareholders are one example of a range of stakeholders in a private or public limited company.
