Which of the Following Best Explains 'Purchasing's Operational Contribution

question 17

Multiple Choice

Which of the following best explains 'purchasing's operational contribution'? 

• A) This is flawless purchasing and business processes that are operated at the lowest possible cost. 
• B) This refers to the relationship between planned and actual costs. 
• C) The savings made against budget allocation. 
• D) The longer term consequences of the activity.

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Definitions:

Lost Property

Items that the owner has unintentionally left or dropped, and where the owner has forgotten or is unaware of their location.

Eminent Domain Law

Legal provisions allowing the government to expropriate private property for public use, with compensation to the owner.

Expropriate

The act of a government taking private property for public use, usually with compensation to the owner.

Fee Simple Absolute

A type of freehold ownership where the owner has the maximum possible rights over the property, permitting them to use it, sell it, or bequeath it under the law.