Which of the Following Is the First Step in the Purchasing

question 127

Multiple Choice

Which of the following is the first step in the purchasing and payment process?

• A)The supplier ships the goods and sends an invoice to the purchaser.
• B)The purchaser sends a check to the supplier.
• C)The purchaser sends a purchase order to the supplier.
• D)The purchase receives the inventory and prepares a receiving report.

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Definitions:

Equity Mutual Fund

A corporation that pools the funds of investors, including small investors, and uses them to purchase a bundle of stocks.

U.S. Households

Living arrangements in the United States that include all the people who occupy a housing unit, such as families, roommates, or individuals living alone.

Own Stock

Refers to the possession of shares in a company, indicating partial ownership.

Corporate Bonds

Debt securities issued by corporations to raise capital, with promise to repay the principal amount along with specified interest rates over a period.