Question 1

Select one of the steps of the procurement process.

Accepted Answer

Identify which goods and services the company needs.

Answer

Select products or services.

Answer

Reduces the numbers of non-compliant purchases.

Question 2

Which of the below are not a type of procurement

Accepted Answer

Automatic invoicing

Answer

Indirect Procurement

Answer

Services Procurement

Question 3

Some examples of Direct Procurement are:

Accepted Answer

Cartons, bottles

Answer

Building rents

Answer

Employees computers and its devices

Question 4

The best definition for Procurement is:

Accepted Answer

Purchase goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process.

Answer

Attend each request received from all stakeholders in lower time as possible.

Answer

Manage the company cashflow and ensure payment on time to each supplier.

Question 5

What is the goal of a three-way matching?

Accepted Answer

To ensure the goods or services received match the purchase order and to prevent payment for unauthorized or inaccurate invoices.

Answer

It involves any goods and services used during the production process.

Answer

To provide managers with a specific value they can spend to procure the goods or services they need.

Question 6

What is considered the first step in the procurement process?

Accepted Answer

Identify which goods and services the company needs

Answer

Submit purchase request

Answer

Assess and select vendors

Question 7

What are the stages of procurement?

Accepted Answer

Sourcing, Purchasing, Payment

Answer

Payment, Billing, Sourcing

Answer

Purchasing, Service Admin, Order to Cash

Question 8

What is spot buy?

Accepted Answer

It is a term used in procurement that refers to the practice of purchasing items in small quantities, typically less than 10 units.

Answer

It involves any goods and services used during the production process.

Answer

It provides the purchasing of goods or services on behalf of a firm, submitted by an authorized employee or department, and approved by the financial department.

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