QUESTION: 41

Value for money can be defined by 'the three E's',
Select those which are not part of 'the 3 E's'.

Effluence
Effectiveness
Ecology
Energy
Economy
Efficiency
Efficacy

Answer(s): A,B,C,D

Explanation:

The 3 E's are economy, efficiency, effectiveness. The 3 E's are often seen as part of the role of pro- curement in an organisation.
Therefore all the other answers here should be selected, as they are not part of the 3 E's. The 3 E's are often seen as part of the role of procurement in an organisation.

Reveal Solution Next Question

QUESTION: 42

Monetary policy deals with:

Government decisions and actions regarding exchange rates and unemployment in the economy
Government decisions and actions regarding the size of banknotes and coins in the economy
Government decisions and actions regarding the level of interest rates and supply of money in the economy
Government decisions and actions regarding the balance between taxation revenue and public expenditure

Answer(s): C

Explanation:

Government decisions and actions regarding the level of interest rates and supply of money in the economy.
Fiscal policy relates to taxation and its relationship to government expenditure. The other two suggested answers: exchange rates and unemployment rates are a factor of other poli- cies; the size of coins and banknotes is beyond the scope of your syllabus and my knowledge. :)

Reveal Solution Next Question

QUESTION: 43

A limited company is an incorporated body.' True or false?

True
False

Answer(s): A

Explanation:

This is true.
A limited company has its own legal identity.
(Your syllabus makes reference to 'unincorporated companies'. This is something of a contradiction - the term 'company' implies incorporation. Although I have not been permitted to see your actual ex- am QUESTION NO :s, it seems unlikely that you will be QUESTION NO :ed on this particular point).

Reveal Solution Next Question

QUESTION: 44

Which one of the following is a commercial document issued by a buyer describing requirements for products or services to be provided by a seller?

Requisition
Purchase order
Invoice
Supplier quotation

Answer(s): B

Explanation:

The only one of these four which fits the bill is 'purchase order'. The supplier quotation and the invoice both come from the supply side.
The requisition is an internal document.

Reveal Solution Next Question

Free L3M1 Exam Braindumps (page: 11)

QUESTION: 41

Explanation:

QUESTION: 42

Explanation:

QUESTION: 43

Explanation:

QUESTION: 44

Explanation: