A. True B. False 37
Answer: A QUESTION: 139 Contract closure by mutual agreement or breach of contract is called contract closeout. A True B. False Answer: B QUESTION: 140 What refers to verifying that all administrative matters are concluded on a contract that is otherwise physically complete? A. Contract termination B. Contract certificate C. Contract closeout D. Contract execution Answer: C QUESTION: 141 Which of the following is the type of termination? A. termination for cause B. termination by mutual agreement C. no-cost settlement D. All of the above Answer: D QUESTION: 142 Used without normal termination procedures, no-cost settlement can be considered when: A. the seller has indicated it will accept it B. no buyer property was furnished under the contract C. the product or service can be readily obtained elsewhere D. All of the above Answer: D 38
QUESTION: 143 Supply chain management advocates told buyers that they needed to: A. use fewer suppliers vs. many suppliers B. negotiate long-term contract vs. short-term contracts C. conduct more detailed progress or milestone tracking of suppliers D. All of the above Answer: D QUESTION: 144 To achieve high performance results year after year, companies must take what action to form successful long-term partnerships? A. unleashing corporate buying and selling power B. changing buying and selling processes and tools C. developing and integrated supply chain D. All of the above Answer: D 39
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- Fall '20
- Contracts manager