Firms Can Be Categorized by the Type of Purchasing Strategy

question 14

Multiple Choice

Firms can be categorized by the type of purchasing strategy used._____ consider numerous,even unfamiliar suppliers and solicit and analyze options.

• A) Satisficers
• B) Strivers
• C) Optimizers
• D) Actualizers
• E) Innovators

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the payer’s ledger but have not yet been cashed or cleared by the bank.

Another Company's Deposit

This refers to funds deposited by one company into the bank account of a different company, often for payment of goods, services, or a joint venture.

Another Company's Check

A form of payment issued by one company to another for goods or services rendered.

Electronic Funds Transfer

A system that allows the transfer of money between accounts via electronic signals, eliminating the need for physical checks.