Business Mock Test

Who is typically responsible for completing the Goods Receipt Note (GRN)?

• The accountant from the seller's side.

• The driver from the shipping company.

• The buyer or their representative.

• The sales representative of the supplier.

What is the primary purpose of a canvass sheet in a business setting?

• To place orders with suppliers

• To summarize and compare quotations from suppliers

• To advertise products to customers

• To prepare financial statements

When is a canvass sheet typically used?

• Before requesting quotations from suppliers

• After receiving RFQ forms from different suppliers

• During the delivery of products

• After the payment is made

Which of the following is NOT included in a canvass sheet?

• Product name

• Supplier's total sales

• Unit price

• Recommendation note

What tool is commonly used to create a canvass sheet?

• Google Docs

• MS Excel

• Adobe Photoshop

• MS Word

Why is a recommendation note important in a canvass sheet?

• It provides reasons for preferring a particular supplier's product or service.

• It indicates the payment terms agreed upon with the supplier.

• It summarizes the customer feedback.

• It lists the inventory levels for each product.

Which order of documents is commonly followed in a simple business transaction?

• Sales Order, Purchase Order, Goods Receipt Note.

• Goods Receipt Note, Purchase Order, Sales Order.

• Quotation, Goods Receipt Note, Sales Order.

• Purchase Order, Sales Order, Goods Receipt Note.

Which document is essential for the buyer to ensure the received goods match the order?

• Goods Receipt Note.

• Purchase Order.

• Sales Order.

• Quotation.

What is the primary purpose of a Request for Quotation (RFQ)?

• To finalize the price with a single supplier.

• To request pricing and other details from various potential suppliers.

• To place a formal order for goods or services.

• To form a long-term agreement with a preferred supplier.

When would an RFQ be least suitable?

• For ordering a custom artwork piece.

• For buying 100 identical monitors from different suppliers.

• For purchasing 500 standard screws from various vendors.

• For getting quotes on the same type of office chairs from different furniture suppliers.