The Purchasing Department Should Make Sure That Only Authorized Goods

question 73

True/False

The purchasing department should make sure that only authorized goods are received,the goods meet order specifications,an accurate count of the goods received is taken,and that accountability is established to assure that all receipts are recorded.

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Definitions:

Rival

An entity competing against another in the same market or field.

Rival

A term used in economics to describe a good or service that cannot be consumed by more than one person at the same time, meaning consumption by one person diminishes the ability of another to consume it.

Nonexcludable

A characteristic of a good where it is impossible, or highly costly, to prevent someone from using the good once it has been provided.

Marginal Private Benefits

The additional benefit received by consumers from consuming one more unit of a good or service.