Aspen Corporation Has Discovered That It Uses 10 Different Suppliers

question 38

Multiple Choice

Aspen Corporation has discovered that it uses 10 different suppliers for a particular type of item,has bought 20 different models of that item,and total expenditures last year for the item were $100,000.Aspen most likely is conducting:

• A)Supplier audits.
• B)Spend analysis.
• C)Supplier certification.
• D)Make or buy analysis.

---

Definitions:

Financial Results

The outcome of a company's operations in terms of revenue, expenses, and net income for a specific period.

Income-smoothing

A strategy used by companies to stabilize their earnings over a period by using reserves to reduce fluctuations in income.

ASPE

Accounting Standards for Private Enterprises; a set of accounting guidelines for private companies in Canada.

IFRS

International Financial Reporting Standards (IFRS) are a set of accounting rules and standards issued by the International Accounting Standards Board (IASB) that aim to bring consistency to financial reporting across the globe.