Every Organization Operates Which of the Following Types of Supply

question 28

Multiple Choice

Every organization operates which of the following types of supply chains?

• A)Product and tangible goods supply chains.
• B)Information and personnel supply chains.
• C)Direct and indirect supply chains.
• D)Product and resource/technology supply chains. Product supply chains manage flows of goods and services.Resource/technology supply chains manage acquisitions and flows of equipment, facilities, workers, product designs, and so on.

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Definitions:

Terms: 3/20, Net 30

Payment terms indicating a 3% discount if paid within 20 days, otherwise net amount is due within 30 days.

June 1 Dating

A term used in trade credit to indicate that the payment is due on June 1 for purchases made now.

Lockbox System

A service provided by banks to companies for the receipt of payment from customers, involving collecting and processing checks received at a special post office box.

Electronic Transfer

The digital exchange of money between accounts, which can occur within the same financial institution or across different institutions.