Which One of the Following Duties Should Not Be Assigned

question 108

Multiple Choice

Which one of the following duties should not be assigned the purchases department?

• A)finding the lowest cost vendor
• B)reviewing vendors' catalog descriptions and prices for standardized items
• C)designing the purchase order form
• D)authorizing the acquisition of goods

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Definitions:

Callable

A term describing a financial security (such as a bond) that the issuer has the right to redeem before its maturity date, usually at a specified call price.

Mortgage Bonds

Debt securities secured by a mortgage on the issuer's property, prioritizing bondholder claims on assets in case of default.

IFRS

The International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that is globally used for preparing financial statements.

Convertible Notes

A type of short-term debt that converts into equity, usually in conjunction with a future financing round; often used by startups.