What are the typical procurement objectives of an organization?
What will be an ideal response?
Many organizations have similar procurement objectives; the most common are saving time and money. According to some estimates, a well-managed procurement process can spend half as much as a poorly managed procurement process to acquire the same goods. Other procurement effectiveness objectives include finding reliable, high-quality suppliers; maintaining good relationships with existing suppliers; and supporting other processes in the organization such as sales and operations. Procurement processes also seek to be efficient–to be less costly and to generate fewer failures, such as stockouts, errors, and products that need to be returned to suppliers.
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a. issuance of a notes payable. b. making a loan to another company. c. cash dividends paid. d. the purchase of treasury stock.
Premium on Bonds Payable is a balance sheet item for Ohio Products Company. How would it most likely be classified on the balance sheet?
a. An increase to a long-term liability b. Revenue c. Long-term asset d. Contra liability
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A) claim title to the tennis racket. B) not claim title to the tennis racket. C) be held the beneficiary of the tennis racket. D) be held the donor of the tennis racket.
An express warranty requires that the warranty be expressed in words
a. True b. False Indicate whether the statement is true or false