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QUESTION 11 What type of acquisition is justified when items are needed for immediate availability, contain advanced technology, or offer extended service warranties? A. Fabrication B. Purchase of new items C. Purchase of used items D. Leasing Correct Answer: QUESTION 12 What type of acquisition requires the specific tracking of costs associated with labor, material, special tools, direct costs and indirect costs? A. Gifts B. Acquisitions that by-pass Purchasing C. Fabrication D. Purchase of used items Correct Answer: QUESTION 13 What is one key factor in determining a grant versus gift? A. Grants never have written agreement between entities B. Fair market value of item <$1,000 C. Property Management is not involved in grants D. Donor has performance expectations Correct Answer: QUESTION 14 Which of the following is a justification for leasing or renting an item instead of purchasing or fabricating? A. It may be required for only a short period of time B. Time of project work unknown C. Tax benefit to organization D. Easier to track in Property System Correct Answer: QUESTION 15 Which type of property acquisition considers the rights and responsibilities of both the owner and user and is MORE extensive and formal? A. Leased B. Rented C. Transferred D. Gifts Correct Answer: QUESTION 16 When preparing a purchase requisition for Purchasing, the type of purchase (new or used) and the cost determine: A. Property's involvement B. Approvals needed C. Quality Assurance review D. Paperwork required Correct Answer: QUESTION 17 What type of review verifies the purchase will fulfill, but not exceed, the requirements of the intended use? A. Budget review B. Management review C. Quality review D. Facility services review Correct Answer: QUESTION 18 What is assigned after budgets are approved for project acquisitions? A. Expense code B. Receiving plan C. Capital Accounting account D. Property tag schema Correct Answer: QUESTION 19 What is Procurement's first step when advanced technology or research & development procurements are being made and specific deliverables are known? A. Request for Quotation B. Request for Proposal C. Request for Data D. Request for Information Correct Answer: QUESTION 20 What is established by the documentation created during the receiving process? A. Responsibility B. Ownership C. Accountability D. Stewardship Correct Answer: