Selected L4M4 CIPS Level 4 Diploma in Procurement and Supply Questions Answers

Cash flow statement (statement of cash flow) and balance sheet (statement of financial position)

Balance sheet (statement of financial position) and profit and loss account (statement of financial performance)

Profit and loss account (statement of financial performance) and chairman’s statement (in the annual report)

Cash flow statement (statement of cash flow) and profit and loss statement (statement of financial performance)

Unscheduled audits significantly reduce costs compared to scheduled visits

Unscheduled audits help to achieve an unbiased assessment

Unscheduled audits help to identify non-compliance issues

Unscheduled audits increase the risk of providing misinformation

Unscheduled audits are more time-efficient than scheduled audits

The existence of policies and initiatives toward more sustainable packaging and materials

The existence of Total Quality Management (TQM) and a continuous improvement culture

Certification to the management system ISO 9001

Certification to the management system ISO 14001

The supplier's environmental impact analysis

To obtain indicative prices that could be offered for a range of required products

To negotiate the payment terms detailed in the terms and conditions of sale

To ask for details of the product or range of services that the supplier has to offer

To establish the details of environmental and quality certificates that the supplier may have

To determine whether the supplier can fulfil a purchase order already placed