Materials Management Can Be Organized as Either a Cost Center

question 13

True/False

Materials management can be organized as either a cost center or a profit center.

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Definitions:

Original Duty

The fundamental obligation or responsibility that a party has in a contractual or legal relationship.

Enforce

To compel obedience or compliance through legal or authoritative means; to ensure the fulfillment of a requirement.

Give Consideration

In contract law, the act of offering something of value, required by both parties for a contract to be legally binding.

Promissory Estoppel

A legal principle that prevents a person from going back on a promise even when a legal contract does not exist.