The Management of the Firm's External Resources Through Identification and Selection

question 37

Multiple Choice

The management of the firm's external resources through identification and selection of suppliers,management of supplier relationships,and monitoring and rewarding supplier performance in an effort to support the long-term goals of the organization is called:

• A)Buyer-supplier integration
• B)Acceptance sampling
• C)Procurement rationalization
• D)Strategic sourcing

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Definitions:

Automatic Extension

A provision allowing taxpayers to automatically extend their deadline for submitting tax returns or other required documents, without needing to provide a reason.

Return

A financial document summarizing an entity's income, deductions, and taxes owed over a specific period, often annually.

Subchapter S Election

A tax election made by small businesses to be taxed as a pass-through entity, avoiding double taxation.

Current Year

The present calendar or fiscal year in which business operations, transactions, or tax considerations are being referenced or conducted.