Describe the importance of procurement as an organizational process
What will be an ideal response?
Procurement is the most common organizational process. Every organization, from single employee startups to Walmart, from county to federal governments, relies on its Procurement process. For businesses that make products, procurement is a vital process as all the raw material and parts needed for production or assembly must first be procured. However, even firms that provide services depend on procurement. For example, hospitals need thousands of health care products, and universities need food, equipment, landscaping services, and mascots.
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Explain the accounting for errors and changes in accounting principles and changes in accounting estimates
Which of the following comprise the influences on the evaluation and adoption of innovations?
a. benefits provided, compatibility, complexity, trialability, observability b. relative advantage, usability, complexity, trialability, observability c. relative advantage, compatibility, importance, trialability, observability d. benefits provided, compatibility, complexity, importance, observability e. relative advantage, compatibility, complexity, trialability, observability
The Federal Communications Commission is a federal agency that determines
who may hold a license to broadcast communications. What type of agency is the Communications Commission? a. Regulatory agency b. Public service agency c. Social welfare agency
Which of the following acts requires disclosure of finance charges in terms of an annual percentage rate and requires that interest rates be calculated in a uniform manner in consumer credit transactions?
a. Equal Credit Opportunity Act b. Fair Credit Billing Act c. Truth-in-Lending Act d. FTC Act