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Business Multiple Choice Questions




Question;(1).;Which of the following is not a transactional relationship;characteristic?;(a). Long-term contract;(b). An absence of concern;(c). One of a series of independent deals;(d).;Costs, data and forecasts are not shared.;(2).;Which of the following is not one of the issues that affect a supplier?s;assessment of a buying;firm?;(a). Gifts & gratuities;(b). Openness and Approachability;(c). Availability;(d). Professionalism.;(3).;Which of the following is a major element included in a ?to buy? cost;analysis?;(a). Delivered purchased material costs;(b). Transportation costs;(c). Direct;labor costs;(d). Any follow-on costs stemming from quality and;related problems.;(4).;Which of the following is not one of the six categories of cost;presented in the textbook?;(a). Price of goods;(b). Variable manufacturing costs;(c). Fixed manufacturing costs;(d). Semi Variable costs.;(5).;Which of the following is not a common source of prices for a price;analysis?;(a). Catalog prices;(b). Internet prices;(c). The grapevine;(d). Independent cost estimates.;(6).;Which of the following is not a category of discounts?;(a). Trade discounts;(b). Quantity discounts;(c). Credit card discounts;(d). Seasonal discounts.;(7).;Which of the following is not considered a major element that affects a;supplier?s cost?;(a). Effectiveness of competitors;(b). Capabilities of management;(c). Efficiency of labor.;(d). Amount and quality of subcontracting.;(8).;Which of the following is not a common use of learning curve?;(a). Estimation of Target costs;(b). Improving Make-or-Buy Analyses;(c). Estimation Delivery Times;(d).;Estimation of Material costs.;(9).;Several potential benefits exist when a buying firm pays for and takes;title to special tooling? Which is not;one of the potential benefits?;(a). The buying firm gains greater control;(b). Insurance costs are lower;(c). Analysis of production costs is easier;(d). Labor learning curve effect is reduced.;(10).;Generally, compensation arrangements do not determine;(a). Degree & timing of the cost;responsibility assumed by the suppliers;(b). Amount of profit or fee available to the;supplier;(c). Capability of the supplier with respect to;quality;(d). Motivational implications of the fee portion;of the compensation arrangements.;(11).;Which of the following statements is not true about incentive arrangements;in contracts?;(a). Used to motivate the supplier to control;costs;(b). Used to encourage goods supplier performance;(c). Contract price will usually be lower;(d). Ceiling price is usually fixed during;negotiations.;(12).;Which of the following is not a cost type arrangement?;(a). Cost reimbursement;(b). Cost plus hidden charges;(c). Cost plus fixed fee;(d). Cost plus award fee.;(13).;Which of the following is usually not one of the objectives of a;negotiation with a supplier?;(a). Quality;(b). Fair & reasonable price;(c). Cultural values;(d). On-time performance.;(14).;Which of the following is not one of the major steps in the typical;negotiation process?;(a). Preparation;(b). Establishment of objectives;(c). Litigation prevention;(d). Face to face discussions.;(15).;Which of the following is a traditional non-cost objective in a;negotiation?;(a). Liability for claims and damages;(b). Quantity of labor;(c). Wage rates;(d). Quantity of materials.;(16).;Which of the following is not a powerful preparation activity or tool;for negotiation presented in;the textbook?;(a). Agenda.;(b). Murder Boards;(c). Mock Negotiations;(d). Historical Price Data Sheets.;(17).;Several changes in business have increased the need for better contract;management. Which of;the following is not of those changes?;(a). Collaboration is continuing to become more;important;(b). Large inventories are available;(c). Quality is expected;(d). Deliveries are expected to be on time, or;early or late.;(18).;What usually does not need to be specified at the pre-award conference?;(a). All items and conditions;(b). Expected quality levels;(c). Staffing and supervision;(d). Site conditions, work rules, safety.;(19). Which of the following is not one of the four;categories of actions that exist to resolve a dispute?;(a). Negotiation;(b). Mediation;(c). Situation;(d). Arbitration.;(20).;Which of the following is not true about pricing in institutions?;(a). Until recently, many suppliers granted;special prices to institutions;(b). Today, most suppliers view the institutional;market as a less preferable market to private;industry;(c). To obtain fair prices in such a market;institutions much have supply managers that can;negotiate;effectively with their highly competent sales counterparts;(d). Institutions, as a group, continue to violate;one of the basic principles of good supply;management-that of not disclosing prices.;(21).;Which condition clearly indicates that negotiation is preferred over;competitive bidding?;(a). Dollar volume of the potential buy is very;large;(b). Product isn?t actually needed until five;months into the future;(c). Each firm that is competing is a technical;giant in the field;(d).;There will be substantial pre-production engineering and tooling required.;(22).;All of the following factors will strengthen the buying organization?s;position in a negotiation;except;(a). Unclear specifications;(b). Strongly competitive field;(c). Lack of urgency for a contract;(d).;Thorough cost/price analysis.;(23).;Which of the following is the least likely source of relevant;information about a supplier when;planning a negotiation?;(a). External databases;(b). Persons who previously negotiated with the;supplier;(c). Dun & Bradstreet reports;(d). Supplier?s ranking among Fortune companies.;(24).;Which of the following types of costs change in direct proportion to;changes in the level of;operational activity?;(a). Fixed;(b). Variable;(c). Standard;(d). Direct.;(25).;All of the following are elements considered in a cost analysis except;(a). Direct Labor;(b). Liability;(c). Material;(d). Profit.


Paper#53157 | Written in 18-Jul-2015

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