Podcast
Questions and Answers
Supply management personnel often function as consultants in the procurement of equipment.
Supply management personnel often function as consultants in the procurement of equipment.
True
Retail sales outlets are a primary source of used equipment.
Retail sales outlets are a primary source of used equipment.
False
Financial leases are usually short-term.
Financial leases are usually short-term.
False
Destructive testing should be conducted prior to purchasing used equipment.
Destructive testing should be conducted prior to purchasing used equipment.
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Potential penalties are not usually included in a lease contract.
Potential penalties are not usually included in a lease contract.
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Firms utilize leases because they are not interested in ownership and want freedom and flexibility.
Firms utilize leases because they are not interested in ownership and want freedom and flexibility.
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Supply management personnel play a passive role in the procurement of equipment.
Supply management personnel play a passive role in the procurement of equipment.
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Used equipment brokers are considered a primary source for acquiring used equipment.
Used equipment brokers are considered a primary source for acquiring used equipment.
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Before purchasing used equipment, a buyer should conduct destructive testing on the equipment.
Before purchasing used equipment, a buyer should conduct destructive testing on the equipment.
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Operating leases are typically long-term agreements used to facilitate business operations.
Operating leases are typically long-term agreements used to facilitate business operations.
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The length of a financial lease is usually longer than the life of the equipment being leased.
The length of a financial lease is usually longer than the life of the equipment being leased.
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Lease contracts typically include provisions for acceptance testing, inspection conditions, and guarantee conditions.
Lease contracts typically include provisions for acceptance testing, inspection conditions, and guarantee conditions.
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