When the Procurement Officer at a Local Municipality Accepted Lavish

question 93

Multiple Choice

When the procurement officer at a local municipality accepted lavish gifts from a road construction firm,who had just recently submitted a Request for Proposal for a published contract,this is an example of:

• A)an activity that is legal and ethical.
• B)caveat emptor.
• C)an activity that is illegal but ethical.
• D)bribery.

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Definitions:

Direct Labor Budget

A financial plan that estimates the cost of direct labor required to meet the production needs of a company over a specific period.

Direct Labor-Hours

The total hours of work directly contributed by laborers to produce goods, often used in costing and productivity calculations.

Direct Labor Rate

The cost of labor per hour for workers directly involved in the manufacturing process.

Cash Budget

A financial plan that estimates cash inflows and outflows over a specific period, helping manage liquidity and ensuring availability of cash.