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CIPS Exam L4M2 Topic 8 Question 41 Discussion

Actual exam question for CIPS's L4M2 exam
Question #: 41
Topic #: 8
[All L4M2 Questions]

Procurement should work closely with colleagues in accounts when creating an annual budget. This is because the budget will help the company ...

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Suggested Answer: A

In the scenario, ABC Ltd has the following characteristics:

- Large investment in facilities and machinery

- Access to skilled workforce

- Mass production.

This company is a manufacturer. Manufacturing is an industry that makes products from raw ma-terials by the use of manual labour or machinery and that is usually carried out systematically with a division of labour.

Manufacturing requires investment in machinery and access to a suitably skilled workforce as well as materials and components.


- CIPS study guide page 74-76

- manufacturing | Definition, Types, & Facts | Britannica

LO 2, AC 2.1

by Jaime at Aug 09, 2024, 01:01 AM

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Mohammad
4 days ago
B) Plan its finances for the next year - bingo! This is the one. It's as simple as that. Time to move on to the next question.
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Annett
14 days ago
C) Process supplier invoices quicker - nice try, but that's not the main purpose of the annual budget. Maybe they're confusing it with accounts payable procedures.
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Reena
17 days ago
A) Define terms and conditions of the contract - huh? How is that related to the budget? Someone needs to brush up on their procurement knowledge.
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Dalene
26 days ago
I think the answer is D) Plan its functional strategy for the next year. A budget helps align resources with strategic goals.
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Ruby
28 days ago
D) Plan its functional strategy for the next year - this seems like a reasonable answer too. The budget can help guide the company's overall strategic direction.
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Jennie
2 days ago
B) Plan its finances for the next year
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Kristel
7 days ago
A) Define terms and conditions of the contract
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Providencia
28 days ago
I agree with Melinda. Without a budget, it's hard to know how much money is available for different activities.
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Melinda
29 days ago
I think the answer is B) Plan its finances for the next year. It's important to have a clear budget in place.
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Yolando
29 days ago
B) Plan its finances for the next year - this is the obvious correct answer. The budget is a crucial tool for financial planning and forecasting.
upvoted 0 times
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