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Questions and Answers
What does the term 'procurement threshold' refer to?
What does the term 'procurement threshold' refer to?
- The average amount spent on purchases
- The minimum amount that can be spent on a purchase
- A limit on the number of purchases that can be made
- The maximum amount that can be spent on a purchase (correct)
What is another term for 'procurement threshold'?
What is another term for 'procurement threshold'?
- Budget ceiling
- Cost boundary
- Purchase quota
- Spending limit (correct)
What might happen if a procurement threshold is exceeded?
What might happen if a procurement threshold is exceeded?
- The purchase might be cancelled
- The purchaser might be penalized
- Additional approval might be required (correct)
- The vendor might be penalized
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