Which of the Following Is Not One of the 12

question 35

Multiple Choice

Which of the following is not one of the 12 topics that ethical and professional standards of supply management practice are built upon as advocated by the Institute for Supply Management?

• A) Confidential Information
• B) Treatment of Suppliers
• C) Reciprocity
• D) Fairness
• E) Governing Laws

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Definitions:

Contracts

Legal agreements between two or more parties that are enforceable by law, outlining responsibilities, duties, and sharing of benefits.

IRR

Internal Rate of Return; the discount rate that makes the net present value of all cash flows from a particular project zero.

Cash Flow

The net amount of cash and cash-equivalents being transferred into and out of a business.

Project

A temporary endeavor undertaken to create a unique product, service, or result with specific objectives and defined beginning and end.