The Practice of Buying from Another Company a Good or a Service

question 8

True/False

The practice of buying from another company a good or a service that is part of a company's value-added activities is called outsourcing.

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Definitions:

Specialized Knowledge

Expertise or skills in a specific field or area, often acquired through education or extensive experience.

Higher Education

Education provided by universities and other institutions that award academic degrees, such as colleges, typically beyond secondary education.

Corporations

Large companies or groups of companies authorized to act as a single legal entity and recognized as such in law.

Legal Entities

Organizations or groups that have legal rights and obligations, including the ability to enter into contracts and own property.