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Force Account
You have learnt that direct contracting is used under a limited number or exceptional circumstances without inviting any open bids.
Force account is to make use of your own personnel and equipment, or to do the work or procure goods without prior agreement as required for lump sum or unit price. For example, when you have skilled labour for execution of certain components of the work, you need not call for bids for completing the work. However, you should justify this on economic grounds.
Conditions for adopting shopping We should adopt shopping when: It is an appropriate method for execution of works of small value in a short period of time. In the case
a) Security issues are a major source of concern for everyone both inside and outside the banking industry. There are some security questions that need to be considered before dep
Collection and Storage of Documents: From the dawn of civilisation man has recognised the need for collecting and preserving the records of human thought. Books and other grap
QUESTION 1 While managing institutions, managers have to deal with four variables (a) Identify and briefly describe these four variables (b) Using a concrete example expl
Advantages and Disadvantages of Stock Verification Some of the advantages and disadvantages of stock verification are listed in this section. Advantages • By revea
Q uality control Quality control uses techniques and performs activities to compare actual quality performance with requirements and define appropriate actions if ther
R i sk classification based on where risk control lies From the point of view of where risk control lies, five classifications of risk can be listed: External risks wh
QUESTION 1 Describe the various methods that can be used at a place of work to ensure that the storage and handling of materials are carried out in an effective and efficient m
A company manufactures and sells a single product. The variable cost of the product is Rs 2.50 per unit and all production each month is sold at a price of Rs 3.70 per unit. A pote
Steps in production process A project whether it is the development of Fast Moving Consumer Goods (FMCG) product, a Parma product or any other product, generally follows the s
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