38699509
Description
Quiz by Sheth K. A., updated more than 1 year ago
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Created by Sheth K. A.
about 1 year ago
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Question 1
Question
1) ……………….. may be defined simply as providing or making something available, often in response to a buyer’s or customer’s requirements.
Answer
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a) Procurement
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b) Supply chain
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c) Supply
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d) Purchasing
Question 2
Question
2) Purchasing function of an organization involves the acquisition of supplies or inputs (raw materials, components, goods, and services) to the organization’s activities for conversion, consumption, or resale.
Answer
- True
- False
Question 3
Question
3) The following are functions of procurement except,
Answer
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a) Supply market monitoring and identifying a potential source of supply.
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b) Providing input to the preparation of specifications
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c) Clerical and administrative tasks: record keeping, report generation, and processing of documentation.
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d) Conversion of raw materials into a finished product
Question 4
Question
4) Procurement is a wider term than purchasing.
Answer
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a) False
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b) True
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c) Not applicable
Question 5
Question
5) …………………….. may be defined as the process of acquiring goods, works, and services for an organization with an allocated resource.
Answer
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a) Supply
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b) Procurement
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c) Supply chain
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d) Value addition
Question 6
Question
6) ………………….. are actions individuals or organizations perform which confer a benefit, but do not result in the ownership of anything.
Answer
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a) Service
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b) Goods
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c) Work
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d) Raw materials
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