________ Is the Process of Obtaining the Goods and Services

question 77

Multiple Choice

________ is the process of obtaining the goods and services needed by an organization.

• A) Fabrication
• B) Procurement
• C) Lead generation
• D) Outbound logistics

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Definitions:

Cancelled Checks

Checks that have been processed by the bank, serving as proof of payment or transaction.

Prenumbered Documents

Documents that are sequentially numbered in advance, used to ensure completeness and to prevent fraud or duplication.

Approving Payment

The process of confirming that an invoice or bill can be paid, often involving verification that the amount is correct and the goods or services were received.

Payment Duty

The obligation or requirement to make a payment to another party, often as part of a contractual agreement or as part of financial operations.