Can You Pass The Purchasing Test?
9 Questions
| Total Attempts: 365
A quiz targeted to financial, accounting and purchasing management in the oil and gas industry to gauge their companies' position as it relates to best practices in smart purchasing.
Questions and Answers
- 1.Do you currently have visibility to non-contract spend?
- A.
Yes
- B.
No
- C.
Not Sure
- 2.Are your drilling sites always getting the right parts they need at the right price?
- A.
Yes
- B.
No
- C.
Not Sure
- 3.Can you track detailed spending against AFEs on a well-by-well basis?
- A.
Yes
- B.
No
- C.
Not Sure
- 4.Are you completely compliant with the Section 404 of the Sarbanes-Oxley Act?
- A.
Yes
- B.
No
- C.
Not Sure
- 5.Are you currently using POs and a centralized PO system?
- A.
Yes
- B.
No
- C.
Not Sure
- 6.Are you taking advantage of early payment discounts with your vendors?
- A.
Yes
- B.
No
- C.
Not Sure
- 7.Would you say there are good controls over your company's purchasing?
- A.
Yes
- B.
No
- C.
Not Sure
- 8.Are you conducting true vendor rationalization?
- A.
Yes
- B.
No
- C.
Not Sure
- 9.Do you have confidence that your vendors are abiding by their contracts?
- A.
Yes
- B.
No
- C.
Not Sure
Questions: 7 | Attempts: 1157 | Last updated: Mar 22, 2022
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Sample QuestionWhat type of error you get while Purchase order form?
Questions: 10 | Attempts: 1038 | Last updated: Mar 22, 2022
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Sample QuestionA restaurant wastes $600 each month because of poor purchasing practices. If the operations budget targets a profit of 15% of revenues, how much additional revenue must be generated by year’s end to recoup the $600 of wasted resources each month?
Questions: 10 | Attempts: 381 | Last updated: Mar 21, 2022
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Sample QuestionThe 3 main sources of purchasing data are:
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