L4M4 Exam Dumps : Ethical and Responsible Sourcing

Explanation

A bribe is anything that is of value to the recipient. It’s commonly money, but could also be an item such as a car, or doing someone a favour such as hiring their son.

Explanation

Reasons to outsource include; 'overheads can be kept as effective as possible' and 'the reduction in the need to continually invest in new machinery'.

When you outsource, you transfer the costs of overheads to the supplier and it is their responsibility to buy new machinery as and when is required. For example if you outsource cleaning, the cleaning company is responsible for replacing the hoovers and floor cleaner

The other two options would be reasons to keep something 'in-house'.

Explanation

gross profit = total revenue - cost of sales.

Learn all you can about financial ratios and financial statements for the exam- it's a very common topic