Once a Purchase Request Is Approved,what Is the Next Step

question 105

Multiple Choice

Once a purchase request is approved,what is the next step?

• A)The system creates a purchase order.
• B)The accounts payable department approves the purchase request,creating a purchase order.
• C)The inventory master file is accessed to find the preferred supplier(s).
• D)The department that created the purchase request may buy the requested item(s).

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Definitions:

Inventory Requirements

The specific amount of stock that a company needs to have on hand to meet customer demand and support production processes.

Sunk Cost

A past expense that has already been incurred and cannot be recovered, which should not influence future business decisions.

Concession Stand

A vendor booth or stall that sells snacks, drinks, and other small items at events, in public places, or in entertainment venues.

Erosion

In a financial context, erosion refers to the gradual reduction of assets or earnings, primarily due to costs, wear and tear, or obsolescence.