The Payment Process

question 16

Multiple Choice

The payment process:

• A)and the supply process should be aligned in policy and practice.
• B)should always be owned and managed by accounts payable.
• C)should always be owned and managed by supply.
• D)must include paper invoices to avoid legal liability.
• E)has little impact on supply management.

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Definitions:

Strategic Behavior

Self-interested economic actions that take into account the expected reactions of others.

International Cartel

An agreement among businesses or countries from different countries to control prices, limit competition, or divide markets.

Fix Prices

The practice of setting and maintaining prices at a certain level, often agreed upon by competitors or mandated by regulation, rather than allowing them to be determined by market forces.

Intel

A leading multinational corporation that specializes in the development of semiconductor chips and microprocessors used in computers.