QUESTION: 21

Goods or services which must be used together are called:

Compliments
Condiments
Complements
Substitutes

Answer(s): C

Explanation:

The items are complementary. Complements.

For example, a Tesla car and a Tesla charging point.

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QUESTION: 22

`Profit is not a cost'. True or false?

True
False

Answer(s): A

Explanation:

This is true. Profit is what is left over after you've covered all your costs. In simple terms.

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QUESTION: 23

Which of the following would be unethical? Choose two.

To place business with a company in which your sister works, having been instructed in writing to do so by your line manager
To negotiate with suppliers
To request quotations if the buyer has no intention to purchase
To request quotations from several suppliers if the buyer has already decided where the contract will be awarded

Answer(s): C,D

Explanation:

Taking up suppliers' time if there is no intention to purchase from them is unethical.

Negotiating with suppliers is to be encouraged; following your line manager's instructions is general- ly regarded as being a good thing, although regarding ethical issues, one is encouraged to query.

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QUESTION: 24

In the written presentation of a business case, a brief explanation of everything in the case, includ- ing the ultimate recommendation, aimed at people (eg senior managers) who have little time to plough through the details.

Background
Cost-benefit analysis
Introduction
Executive summary

Answer(s): D

Explanation:

The Executive Summary summarises the situation for busy executives to save them working all the way through the detail.

The summary needs to be very well written, accurately reflective of the entire document, and in- clude the key points needed to make a balanced decision.

The executive summary should be written last of all the sections, and is often the only part of a document which will be read.

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QUESTION: 21

Explanation:

QUESTION: 22

Explanation:

QUESTION: 23

Explanation:

QUESTION: 24

Explanation:

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