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Gary is a purchasing agent at Thought Cloud Inc. ,an advertising agency.He is formally vested with the responsibility of selecting suppliers of campaign material for a new advertising campaign that is being planned.He identifies a sole-sourcing relationship with Mark,an independent contractor,and negotiates the terms of the contract for the supplies.Which of the following purchasing roles is exhibited by Gary?
Future Cash Payment
A predicted outgoing payment that a company or individual is expected to make, often related to loans, contracts, or other financial obligations.
Unearned Subscriptions
Income received in advance for subscriptions that have not yet been fulfilled or services that have not yet been provided.
Revenue Recognition Principle
An accounting principle that outlines the specific conditions under which revenue is recognized.
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