Purchasing Groups Are ____

question 153

Multiple Choice

Purchasing groups are ____.

• A) several medical practices in the same building that use local vendors to qualify for quantity discounts.
• B) large, established companies that save a physician's office money.
• C) groups of physicians who order supplies together to obtain a quantity discount.
• D) another name for local vendors.
• E) groups of medical assistants that compete to find the best prices.

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Definitions:

June 1 Dating

A payment term used in trading where the payment is due on or after June 1st.

3/20, Net 30

A payment term indicating that a 3% discount is available if payment is made within 20 days; otherwise, the full amount is due within 30 days.

Minimizing Cash Holdings

A financial strategy focused on reducing the amount of cash a company or individual keeps on hand, often to boost efficiency or investment returns.

Relaxed Working Capital Policies

Financial strategies that involve maintaining higher levels of current assets than necessary or reducing short-term liabilities, aiming for greater flexibility and lower risk of liquidity problems.