WorksheetsPOB OBJ 4.02 MC
Total questions: 8
Worksheet time: 4mins
Trey compares the prices offered by different vendors for the same goods and services. Which part of the purchasing process is Trey involved in?
price fixing
receipt of goods
bid analysis
invoice payment
Mark, who owns a small home-appliance store, is in the process of placing an order for 12 refrigerators, 8 stoves, and 4 portable dishwashers. Mark is purchasing the refrigerators for $674.98 each, the stoves for $493.22 each, and the portable dishwashers for $284.83 each. What is the total cost of the stoves that Mark is purchasing?
$493.22
$3,945.76
$2,278.64
$5,399.84
Which question should be answered by the purchasing function?
How much merchandise should we buy?
How can we inform customers of available merchandise?
How will merchandise be shipped to us?
How can we protect merchandise from pilferage?
The first step in maintaining an inventory of supplies for the business is to:
conduct research to find vendors that sell the supplies.
develop a list of supplies that the business needs.
compare prices among vendors.
organize a space to store the supplies.
Some businesses use an automatic reorder system to maintain an adequate:
budget for expenses.
work environment.
inventory of supplies.
maintenance system.
By purchasing just the quantity of supplies that is needed, purchasing can:
plan the company's cash flow.
provide an uninterrupted flow of supplies.
buy supplies at the lowest possible price.
minimize inventory investment.
Maintaining an inventory of supplies helps a business to:
establish sales goals.
operate efficiently.
locate vendors
evaluate processes.
Primetime Incorporated is a retailer of sporting gear. It sells 500 pairs of a specific Nike sneaker each day. Nike, the supplier, takes a week (7 days) to deliver the order. For what quantity should the inventory manager place his/her next order?
3,500 units
72 units
350 units
3,000 units
