L3M1 PDF Exam Material 2024 Realistic L3M1 Dumps Questions [Q48-Q65]

Q48. The idea / practice that some users / internal customers will spend organisational funds without in-volving procurement professionals when required to do so by organisational rules, is called:

Q49. ‘The optimum combination of whole life costs and quality’ is one definition of:

Q50. Thinking about supply and demand, there is one price at which producers wish to sell the same amount as customers wish to buy: in other words, the market ‘clears’, without either a surplus of supply or unsatisfied demand. This price is called the – – – – – – – – price.

Q51. The principle that different spends may require different procedures, with different levels in the or-ganisational hierarchy having different spend authorisations is called:

Q52. Protecting domestic industry from the effects of global competition is known as:

Q53. ‘Cost transparency’ is the notion that:

Q54. The letters ‘NFP’ mean…

Q55. Which of the following would not normally be seen as part of public sector procurement?

Q56. ‘The costs of business activities which are not reflected in the costing of a product or service and paid for by consumers, but which are borne by the wider community – such as the costs of pollution and associated ill health, traffic congestion or environmental degradation’ are known as:

Q57. Which of the following could be described as an organisation?

Q58. Measurement of an organisation’s carbon footprint uses which gas as a standard measure?

Q59. Which one of the following is a commercial document issued by a seller seeking payment for goods or services?

Q60. The system by which organisations are directed and controlled, thinking about business ethics and stakeholder responsibility, and where Directors may be held to account, is called:

Q61. The Paris Agreement is about:

Q62. ‘The social responsibility of business is profit maximisation’ – focusing on returns to shareholders.
This is a famous business philosophy – in contrast to a philosophy of Corporate Social Responsibility as expounded by CIPS.
Which economic and management thinker famously promoted this view?

Q63. Which of the following are examples of renewable resources?

Q64. The letters ‘MNC’ stand for:

Q65. Sources of finance for a private sector entity primarily include (select all that apply):