COST ACCOUNTING
INVENTORY AND PRODUCTION MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Managing purchases may also include ____
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Buying too much product
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Buying too little product
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Selecting the correct amount of product
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Not buying anything
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Explanation:
Detailed explanation-1: -Purchase management is the process of procuring items from external suppliers. It’s the management of purchasing, receiving, reviewing and approving purchase orders. Purchase management also includes managing the relationship with the supplier.
Detailed explanation-2: -Purchase management is managing the purchase of the goods and services that the company requires from suppliers and vendors. It is often an integral part of the company’s operations and is an opportunity to improve the efficiency and profitability of the company.
There is 1 question to complete.