Which Function Should the Purchasing Department NOT Be Responsible For

question 119

Multiple Choice

Which function should the purchasing department NOT be responsible for?

• A) finding the lowest cost vendor
• B) reviewing vendors' catalogue descriptions and prices for standardised items
• C) authorising the acquisition of goods
• D) designing the purchase order form

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Definitions:

Risk-loving

A preference for options with uncertain outcomes, rather than those with more predictable results, often with the hope of higher rewards.

Marginal Utility

The supplementary enjoyment or value obtained by consuming another unit of a good or service.

Disability Insurance

A type of insurance that provides financial support to individuals who cannot work due to a disability.

Expected Utility

The anticipated satisfaction or value derived from a decision, taking into account the probabilities of different outcomes.