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QPA EXAM REVIEW RUTGERS;
COMPREHENSIVE Q&A FOR GUARANTEED
SUCCESS
Guarantees-correct-answer-Main function is to reduce a buyer's sense of risk at
the time of purchase.
Warranties-correct-answer-A promise given by a seller to a buyer that goods are
of a certain quality and will conform to certain standards
LFN-correct-answer-Legal Finance Notice
Public vs. Private Purchasing-correct-answer-1. Public Funds are being spent, the
purchasing process is public business & records and information related to
purchases are open to public inspection
The 6 R's-correct-answer-In the
1. Right Quality
2. Right Quantity
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At the
3. Right Time
4. Right Price
From the
5. Right Source
And in the
6. Right Manner
3 E's of a Professionally Functioning Public Purchasing Operation-correct-answer-
1. Efficiency
2. Effectiveness
3. Economy
Purchasing should be a creative, result-oriented management function and should
achieve an organizational position and status commensurate with its mission:-
correct-answer-1. Authority
2. Responsibility
3. Accountability
Centralization is preferred to decentralization; however, three principles are
needed to guide such an approach-correct-answer-1. Cooperation
QPA EXAM REVIEW RUTGERS;
COMPREHENSIVE Q&A FOR GUARANTEED
SUCCESS
Guarantees-correct-answer-Main function is to reduce a buyer's sense of risk at
the time of purchase.
Warranties-correct-answer-A promise given by a seller to a buyer that goods are
of a certain quality and will conform to certain standards
LFN-correct-answer-Legal Finance Notice
Public vs. Private Purchasing-correct-answer-1. Public Funds are being spent, the
purchasing process is public business & records and information related to
purchases are open to public inspection
The 6 R's-correct-answer-In the
1. Right Quality
2. Right Quantity
, 2|Page
At the
3. Right Time
4. Right Price
From the
5. Right Source
And in the
6. Right Manner
3 E's of a Professionally Functioning Public Purchasing Operation-correct-answer-
1. Efficiency
2. Effectiveness
3. Economy
Purchasing should be a creative, result-oriented management function and should
achieve an organizational position and status commensurate with its mission:-
correct-answer-1. Authority
2. Responsibility
3. Accountability
Centralization is preferred to decentralization; however, three principles are
needed to guide such an approach-correct-answer-1. Cooperation
