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Q3. Which of the following best defines the term ‘variable pricing’?
- A price that can, by agreement between buyer and seller, fluctuate over the length of the contract
- A price that is fixed for the length of the contract unless both parties agree to a change
- A price that covers the seller’s costs plus a mark-up to provide the seller’s profit
- A price that allows discount if the buyer buys more than a stated amount during the contract period.
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Q1. Which of the following should be carried out before passing an invoice for payment?
- Check that the details of the invoice match those of the purchase order and delivery note
- Check that the purchasing company has enough money to pay for the goods
- Check that the accounts department is able to settle the invoice in accordance with the required payment method
- Check that the suppliers bank account details are on the invoice.
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Q5. Which of the following would you expect to find as a fundamental part of legislation whose aim is to protect the buyer when purchasing services?
- The service provided must be carried out using reasonable care and skill
- The service provided must be fit for the purpose
- The service provided must be the same as is carried out for other customers
- The service provided must conform to any description of the service
Q4. Which of the following best describes damages as awarded by a court of law?
- A sum of money awarded to the injured party that gives them extra profit to compensate for the time lost during the dispute
- An order by the court that the defendant should pay back to the injured party any money that they might already have paid
- An order by the court that the defendant must complete the contract free of charge
- A sum of money awarded by the court to compensate the injured party by putting them in the financial position they were in before any dispute arose.