MAPEH Q3

What is the primary purpose of a Request for Quotation (RFQ)?

• To purchase products directly from a supplier

• To elicit quotations for a product or service

• To request a refund from a supplier

• To cancel an order

What does an RFQ allow a company to easily do?

• Buy products from the lowest bidder

• Compare quotes from different vendors

• Ask for payment terms from suppliers

• Choose a vendor based on a personal recommendation

What is typically included in the RFQ to ensure suppliers provide accurate quotes?

• Clear specifications and quantities for the requested items

• A completed contract agreement

• Details about other suppliers' prices

• A sample invoice

Why is it important to specify a submission deadline in an RFQ?

• To give suppliers unlimited time to prepare their offers

• To prevent suppliers from bidding on the request

• To ensure all quotes are submitted within a reasonable timeframe

• To make the RFQ process more complicated

What is the usual outcome after an RFQ process?

• Signing of a non-disclosure agreement

• Cancellation of the request

• Immediate delivery of goods without further steps

• Selection of a supplier and issuance of a purchase order

What happens if the RFQ does not include clear item descriptions?

• The suppliers will refuse to submit any quotes

• The RFQ process is completed more efficiently

• Suppliers may submit incomplete or incorrect quotes

• Suppliers may provide accurate quotes anyway

Which of the following details is essential in an RFQ form?

• The supplier's bank account number.

• A detailed description of the requested goods or services.

• The personal address of the requester.

• The supplier's payment history.

What is the main purpose of a canvass sheet?

• To track employee attendance

• To compare quotes or prices from different suppliers

• To create a marketing strategy

• To plan a business event

What type of information is usually compared on a canvass sheet?

• Weather forecasts

• Product prices, quantities, and terms

• Company financials

• Employee feedback

What format is most commonly used to create a canvass sheet?

• A handwritten document

• A presentation slide

• A spreadsheet or table

• A PDF File