1. Purchase agent is the same as a buyer. True/False
2. Total landed cost includes the full cost of an item. Price, Inventory, Quality, Repair, Transportation, Tariffs. True/False
3. A reverse auction is easy for bidders. True/False
4. Keiretsu network have limited ownership of suppliers in a company coalition network. True/False
5. TQM and similar approaches want a small number of suppliers to develop good relationships. True/False
6. Virtual company has suppliers responsible for all activities but the minimum often one core competence (Research, finance, or Marketing). True/False
7. A Combinatorial Auctions allows bidder to bid on groupings of items. True/False
8. A reverse auction will allow every bidder to submit a price. True/False
9. Purchase agent who has legal authority to execute contracts on behalf of the firm. True/False
10. Vertical integration controls only a small part of the supply chain compared to other models. True/False

Please answer the above true or false questions correctly. Thanks.