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CPPB Exam Prep Study Guide with Approved Solutions (Updated). What does the procurement policy of an entity reflects? ️ -The entity's legal system -The goals and values of the entity -Policies and practices federal-level entities use to acquire goods and services; this may not apply to state or local entities What should the overall purpose of a procurement policy manual be? ️ - Establish the legal authority of the procurement function within the entity. -Simplify, clarify, and ref...

CPPB Exam Prep Questions and Answers Already Passed!! What does the procurement policy of an entity reflects? correct answers -The entity's legal system -The goals and values of the entity -Policies and practices federal-level entities use to acquire goods and services; this may not apply to state or local entities What should the overall purpose of a procurement policy manual be? correct answers -Establish the legal authority of the procurement function within the entity. -Simplify, cl...

What does the procurement policy of an entity reflects? - Correct Answer--The entity's legal system -The goals and values of the entity -Policies and practices federal-level entities use to acquire goods and services; this may not apply to state or local entities What should the overall purpose of a procurement policy manual be? - Correct Answer--Establish the legal authority of the procurement function within the entity. -Simplify, clarify, and reflect the laws governing procurement -...

CPPB COMPREHENSIVE B EXAM 2024 WITH 100% ACCURATE SOLUTIONS What concept is based on the idea that nothing happens in a supply chain until a need is identified? A) First In First Out (FIFO) B) Last In, First Out (LIFO) C) Just in Time (JIT) D) re-Order Point - correct answer C) Just in Time (JIT) Procurement officials acting within the scope of their authority have what type of authority to legally bind the government? A) Express Authority B) Implied Authority C) Actual Authority D) Appa...

CPPB Exam Questions and Answers (Graded A) CPPB Exam Questions and Answers (Graded A) CPPB Exam Questions and Answers (Graded A) CPPB Exam Questions and Answers (Graded A) Procurement Technology - ANSWER-Helps accelerate business improvements Results Oriented Budgeting - ANSWER-Attempts to link a resource allocation to performance criteria Budget Cycle - ANSWER-1. Planning 2. Formalization 3. implementation 4. evaluation Procurement Cards - ANSWER-payment method whereby in...

CPPB Prep Guide Quizzes, CPPB Exam 2023 Questions and Answers

Surety - Correct Answer-A pledge or guarantee by an insurance company, bank, individual, or corporation on behalf of the bidder/proposer to satisfy the contractual obligations. accountability - Correct Answer-the principle that employees who accept an assignment and the authority to carry it out are answerable to a superior for the outcome. acceptance - Correct Answer-1. Indication that all parties to the contract agree to be bound by the terms of the contract. 2. An indication by one pa...