CIPS Updated L4M4 Exam Questions and Answers by chase

Defining corrective actions and running supplier development programs are effective remedial actions following an audit. These approaches support continuous improvement, aligning with responsible sourcing by helping suppliers meet ethical and performance standards.

Weighted criteria allow the buyer to evaluate multiple factors, not just price, to make a fair and balanced decision. This approach ensures responsible sourcing by considering quality, sustainability, and other relevant factors alongside cost, which aligns with public procurement ethics and standards.

Explanation

a balance sheet shows 'equity, assets and liabilities'. The other financial statements you need to know for this exam are cash flow statements and and income statements.

If you're not familiar with these three I strongly recommend you do some further reading on this before the exam if you can. This is helpful: How the 3 Financial Statements are Linked Together - Step by Step (corporatefinanceinstitute.com)

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.