Purchasing Supplies and Raw Materials, Controlling Inventory, and Managing the Physical

question 48

Multiple Choice

Purchasing supplies and raw materials, controlling inventory, and managing the physical facilities are skills which fall under which of the following broad entrepreneurial skill sets?

• A) Directing sales and marketing operations
• B) Directing business operations
• C) Managing people
• D) Setting up a business

---

Definitions:

Inspect

To look at something or someone carefully in order to detect flaws, errors, or compliance with standards.

Rightfully Rejects

A term referring to the legal right of a party to refuse acceptance of goods or services that do not meet the agreed-upon specifications or contract terms.

Nonconforming Goods

Products delivered under a contract that do not meet the specifications or quality standards agreed upon.

Resell

The act of selling an item that one has previously bought to another buyer.