The First Activity of Purchasing Cycle Is _________

question 17

Multiple Choice

The first activity of purchasing cycle is _________.

• A)communicating requirement to the purchase.
• B)source selection and development.
• C)recognizing the need for procurement.
• D)inspection of goods.

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Definitions:

Interest Rate

The percentage charged by lenders to borrowers for the use of money, or the rate earned on investments, reflecting the cost of borrowing or the yield on investments.

Investment Project

A project involving the expenditure of capital in order to generate returns or benefits over time.

Present Discounted Value

The current value of a future amount of money or stream of cash flows, adjusted for the time value of money.

Human Capital

The economic value of an individual's skills, knowledge, and experiences.