MANAGEMENT 3300 MIZZOU CERTIFICATION SCRIPT 2026
QUESTIONS WITH SOLUTIONS GRADED A+
● the zone of negotiation. Answer: is perceived in exactly the same way by buyer and seller
in a negotiation
● when developing a negotiation strategy, the negotiator should assess the positions
of strength of both (all) parties to:. Answer: establish negotiation points and avoid setting
unrealistic expectations
● a US buyer may be discouraged from sourcing offshore if:. Answer: the political
situation in the country of interest is questionable
● when sourcing offshore:. Answer: the buyer should learn about the culture, customs,
norms, taboos, and history of the supplier's country
● the world has grown a good deal smaller, figuratively, in the last 60 years, with the
increased speed of transportation and communication. Answer: true
● the process of attempting to determine all cost elements such as acquisition price,
purchasing administration, follow-up, expediting, inspection and testing, rework,
scrap, downtime, lost sales and customer returns is called:. Answer: total cost of
ownership
● total cost of ownership (TCO) can be used to:. Answer: highlight cost reduction
opportunities, compare suppliers in a supplier selection decision, prepare for a negotiation
and assess the reasonableness of a supplier's prices
● the challenge in buyer-seller relationships is to find ways to foster the development
of trust and mutual understanding of the goals and objectives of each other's
organization while maintaining a professional relationship. Answer: true
● purchasing represents the exchange of money for goods and services. often, a very
large amount of money is involved in this exchange. it is, therefore, vital that the
transactions associated with this process not be carried out at the highest ethical level.
Answer: false
QUESTIONS WITH SOLUTIONS GRADED A+
● the zone of negotiation. Answer: is perceived in exactly the same way by buyer and seller
in a negotiation
● when developing a negotiation strategy, the negotiator should assess the positions
of strength of both (all) parties to:. Answer: establish negotiation points and avoid setting
unrealistic expectations
● a US buyer may be discouraged from sourcing offshore if:. Answer: the political
situation in the country of interest is questionable
● when sourcing offshore:. Answer: the buyer should learn about the culture, customs,
norms, taboos, and history of the supplier's country
● the world has grown a good deal smaller, figuratively, in the last 60 years, with the
increased speed of transportation and communication. Answer: true
● the process of attempting to determine all cost elements such as acquisition price,
purchasing administration, follow-up, expediting, inspection and testing, rework,
scrap, downtime, lost sales and customer returns is called:. Answer: total cost of
ownership
● total cost of ownership (TCO) can be used to:. Answer: highlight cost reduction
opportunities, compare suppliers in a supplier selection decision, prepare for a negotiation
and assess the reasonableness of a supplier's prices
● the challenge in buyer-seller relationships is to find ways to foster the development
of trust and mutual understanding of the goals and objectives of each other's
organization while maintaining a professional relationship. Answer: true
● purchasing represents the exchange of money for goods and services. often, a very
large amount of money is involved in this exchange. it is, therefore, vital that the
transactions associated with this process not be carried out at the highest ethical level.
Answer: false
