Creating and Maintaining Supplier Relationships Is Associated with Which of the Key

question 59

Multiple Choice

Creating and maintaining supplier relationships is associated with which of the key supply chain processes?

• A) Manufacturing flow management
• B) Demand management
• C) Supplier relationship management
• D) Returns management

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Definitions:

Prepaid Account

An account reflecting payments made in advance for goods or services, which are recognized as expenses when the goods or services are actually consumed.

Accounts Payable

Short-term liabilities representing amounts owed to suppliers or creditors for goods and services received but not yet paid for.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check the accuracy of the entries.

Journal Entry

A record in accounting that represents a transaction, documenting the debit and credits affected by it.