Question 1

Revenue-earning possibilities which are foregone as a result of implementing a plan; the cost of not doing something else.

Options :

A : Absorption cost

B : Overhead cost

C : Indirect cost

D : Opportunity cost

Answer: D

Question 2

A justification of an action (expenditure) that is to be taken by an organisation.

Options :

A : Business case

B : Competitive tender

C : Project management

D : Cost analysis

Answer: A

Question 3

The expression ‘consideration’ means:

Options :

A : Being nice to people, in the expectation that they in turn will be nice

B : Being over 18 and being of sound mind

C : Some form of valuable exchange

D : Taking time to think about the gravity of the contract you may be about to be entering into

Answer: C

Question 4

Contracts published by third party experts such as trade associations or professional bodies, widely regarded as favouring neither buyer nor seller, are called:

Options :

A : Good form

B : Paper form

C : Uni form

D : Trans form

E : Model form

Answer: E

Question 5

Conducting individual and group-based (focus groups) in-depth interviews.

Is this quantitative or qualitative data gathering?

Options :

A : Qualitative

B : Quantitative

Answer: A

Free L3M3 Mock Exam – Practice Online Confidently

Buying Options: