As Purchasing Manager for Avalon Electronics,Carrie Is Required to Submit

question 80

Multiple Choice

As purchasing manager for Avalon Electronics,Carrie is required to submit a vendor performance analysis every three months.To meet this requirement,Carrie will most likely

• A) interview vendors and seek their feedback.
• B) specify and weight performance factors and score the vendors.
• C) develop an RFP for vendor analysis.
• D) recruit new suppliers.
• E) use a modified rebuy vendor form.

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Definitions:

Liability

A financial obligation or debt owed by a business or individual to another entity, to be paid in the future.

Prepaid Rent

An expense that has been paid in advance and is considered an asset until the benefit of the payment is consumed.

Rent Expense

An expense incurred from occupying rental property or equipment for business operations.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate periods, ensuring that revenues and expenses are matched.