The Selection of Suppliers Is Called

question 61

Multiple Choice

The selection of suppliers is called

• A)outsourcing.
• B)procurement.
• C)sourcing.
• D)none of the above.

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Definitions:

Certificate of Deposit

A savings certificate issued by a bank to a person depositing money for a specified length of time, typically earning a fixed interest rate.

Treasury Bills

Short-term government securities issued at a discount from the face value and mature in a year or less, offering a secure, low-risk investment option.

Petty Cash Fund

A little bit of readily available money intended for covering small costs.

General Journal Entry

A record in the general journal that documents financial transactions, including date, accounts affected, amounts, and description.