Cppo exam stuvia Study guides, Class notes & Summaries

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7 Rights of Purchasing - Answer To obtain the right material in the right quantity for delivery at the right time to the right place from the right source(a responsive and responsible supplier) with the right service at the right price. Values - Answer Enduring beliefs or ideals shared by public procurement about what is good or desirable and what is not in our actions. Goals - Answer Long-term, tangible, attainable targets for an organization Policies - Answer Plans, courses of action,...

Sole source, single source and emergency procurements are examples of: A. The best ways of procuring goods and services. B. Non-competitive methods of procuring goods and services. C. Unauthorized procurement methods. D. Procurement methods of questionable value. - Answer B. Non-competitive methods of procuring goods and services. In preparing to write a specification or scope of work, we may want to consider one of two methods of gathering facts or details from potential vendors. We c...

Surety - Answer a pledge or guarantee by an insurance company, bank, individual or corporation on behalf of a bidder or offeror which protects against default or failure of the principal to satisfy the contractual obligations. accountability - Answer The principle that employees who accept an assignment and the authority to carry it out are answerable to a superior or a higher authority for the outcome. acceptance - Answer 1. Indication that an offeree is bound by the terms of the offer. ...