Cost and Works Accounting 1 MCQs and Notes
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Q 11. __________ is based on information gathered and analyzed about demand and supply. this forecast provides a prediction of short and long term prices and the underlying reasons for those trends.
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Q 12. Fixed price and incentive type contracts place responsibility for performance and financial risks associated with delay or non-performance on the:
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Q 13. Cost reimbursable contracts are equivalent to:
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Q 14. Which contract type should be used by the owner on a high risk project?
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Q 15. __________ is a formal invitation to submit a price for goods and / or services as specified.
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Q 16. __________ is a register of suppliers invited to submit bids for goods / services as specified.
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Q 17. A purchasing operation does not contain this classification of work?
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Q 18. There are four methods of government procurement. Which is not one of these methods?
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Q 19. Which is not a consideration in a make or buy decision?
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Q 20. The Bid Evaluation process is characterized by all of the following activities except?
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