The Overall Cycle Times of the Purchasing Process Have Reduced

question 79

Multiple Choice

The overall cycle times of the purchasing process have reduced as a result of:

• A) the decreased use of supply chain management.
• B) the increased use of information technology.
• C) the decreased interdependency between buyers and sellers.
• D) an increase in traditional purchasing practices such as direct purchase.
• E) a reduction in postpurchase services.

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Definitions:

Medicare

A federal health insurance program in the United States for people aged 65 and older, and for some younger people with disabilities.

Federal Income Tax

A tax by the U.S. federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.

Net Pay

The amount of money an employee receives after all deductions, such as taxes and retirement contributions, are subtracted from their gross pay.

Federal Unemployment Tax

A tax levied by the federal government on employers to fund state workforce agencies and unemployment insurance programs.