_____ Purchasing Is Concerned with Critical Maintenance and Replacement Parts

question 59

Multiple Choice

_____ purchasing is concerned with critical maintenance and replacement parts, highly engineered machine parts, and manufacturing equipment..

• A) MRO
• B) ORM
• C) CCM
• D) MBO
• E) DOP

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Definitions:

Long-term Debt

Financial obligations owed by a company that are due more than one year in the future, typically including bonds, long-term loans, and lease liabilities.

Internal Control

The processes designed to ensure the reliability of financial reporting, effectiveness and efficiency of operations, and compliance with laws and regulations.

Payroll Checks

Payments made to employees for the work they have done, often processed through a company's payroll system.

Current Liabilities

Current liabilities are obligations a company needs to pay off within a year, such as accounts payable, short-term loans, and accrued expenses.