Reference no: EM132304065
1. Savings organizations enjoy as the result of purchasing and/or selling in large quantities:
a. Economic Development Company
b. Economies of Development
c. Economies of Flight
d. Economies of Scale
2. Which of the below is not a service supplier impacted by technology:
a. Customer Service
b. Productivity
c. Profitability
d. Communications
e. Food Service
3. A measure of management’s efficiency, showing the return on all of an organization’s assets is:
a. ROI
b. SMERF
c. MICE
d. ARC
e. All of the Above
4. Which of the below is not in the SMERF market:
a. Social
b. Military
c. Educational
d. Reward Incentive Groups
e. Fraternal Groups
5. The CISG is a treaty that governs international sales transactions. It was ratified by the U.S. Senate in 1986 and by ten countries in 1988 the year CISG came into force. Which of the following statements is not true regarding the CISG?
a. In CISG-ratified countries, parties make an explicit agreement and can opt out of the law’s coverage.
b. The CISG is not intended to cover the sale of services. Hence, the law does not apply to contracts in which the provision of labor or other services outweighs the supply of manufactured goods.
c. In the U.S., the CISG has the force of federal law and supersedes the UCC (Uniform Commercial Code) based state law under the supremacy clause of the U.S. Constitution.
d. For international contrasts for the sale of goods between a U.S. entity and an entity of a non-contracting country where the contract will be adjudicated by a U.S. court, CISG still applies.
6. In 2002, the Sarbanes-Oxley Act (SOX) was enacted at the federal level in the U.S. Which of the following statements is not true in regards to the Sarbanes-Oxley Act (SOX)?
a. SOX was enacted to restore investor confidence after widespread accounting scandals took place in the corporate world.
b. SOX mainly applies to publicly traded companies and is administered by the Federal Trade Commission (FTC).
c. SOX initially focused on financial reporting and accounting issues but now includes supply chain management.
d. The goal of SOX is to promote alignment between shareholders, board of directors, and executive management.
7. As you saw in the Contract Exercise, if you extend the term of a contract you will see larger monetary profits.
True
False
8. When considering contract profitability, one of the key areas to examine is
a. contract term.
b. express warranty obligations.
c. the durability of the goods.
d. All of the above.
9. The UCC and CISG have similar original objectives.
True
False
10. Breaching a contract may result in positive or negative:
a. results.
b. consequences.
c. business returns.
d. All of the above.
11. One of your suppliers has been providing LED lights for your facilities for several years. One of the new hires on the maintenance staff reports that he noticed a discrepancy between the model numbers of the LEDs he has been replacing in the fixtures and the model numbers cited in the work orders. When you call the maintenance director, she assures you the specifications are the same for both models with regard to luminous emittance (lux measurement). She is an engineer so you should ignore the lower ranking, inexperienced person's report (especially since he isn't in your chain of command).
True
False