In a Successful Partnering Relationship,a Purchasing Agent

question 21

Multiple Choice

In a successful partnering relationship,a purchasing agent:

• A) can legally accept bribes from a sales rep.
• B) should never refuse any gifts or offers from a sales rep.
• C) can ethically enjoy lavish gifts from their sales reps because of the long-term nature of the relationship.
• D) can ethically accept a free lunch from a salesperson.
• E) all of the above.

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Definitions:

Sales Margin

The difference between the selling price of a product and its cost of sales, usually represented as a percentage of sales.

Changing Technology

The rapid evolution and adoption of new techniques, tools, and software which can disrupt industries and alter business operations.

Scrap

Material waste or remnants resulting from manufacturing processes, which may have a recoverable value or can sometimes be reused or recycled.

Inventory

The raw materials, work-in-progress products, and finished goods considered to be the portion of a business’s assets that are ready or will be ready for sale.