In Addition to Buying and Selling,________ Also Includes Selecting Suppliers,getting

question 46

Essay

In addition to buying and selling,________ also includes selecting suppliers,getting approval from buyers,processing purchase orders,delivering and receiving items,and processing payments.

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Definitions:

Ratified

Refers to the formal approval or confirmation of an agreement or contract, typically making it officially valid.

Authority To Make Contracts

The legal capability or power granted to a person or entity to enter into binding agreements or contracts.

Audit

An official inspection of an individual's or organization's accounts, typically by an independent body, to verify their accuracy.

Trading Partnership

A Trading Partnership is a legal arrangement where two or more parties agree to conduct business activities together for profit, typically involving the buying and selling of goods or services.