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Spot the odd one out.
Spot the odd one out.A . EffectivenessB . EcologyC . EfficiencyD . EconomyView AnswerAnswer: C Explanation: You should be familiar with the meaning of the terms economy, efficiency and effectiveness and able to distinguish one from the other.
What should you do?
You have invited quotations for some building maintenance work to be done at your organisational headquarters. Your sister has recently taken up a position as Head of Marketing at one of the firms which has quoted for the work. What should you do?A . Disbar the firm your sister works...
In the period in question, the budget for staff overtime and bonuses is zero.
In the period in question, the budget for staff overtime and bonuses is zero. The actual expenditure is 2,900. Is this variance:A . Averse?B . Favourable?C . Adverse?D . Zero?View AnswerAnswer: C Explanation: The variance is adverse - more was spent than budgeted - this is not favourable.
Which two of the following would be unlikely to increase value for money for an organisation?
Which two of the following would be unlikely to increase value for money for an organisation?A . Attending social events at supplier's expenseB . Use of value analysis or value engineeringC . Standardisation of componentsD . Accepting a late bid in a tender processView AnswerAnswer: A, C Explanation: Suppliers entertain...
