ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The businesses that sell you inventory
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A cushion of products or materials
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Buying of all the materials needed by the organization
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Selling products
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Detailed explanation-1: -Purchasing is the organized acquisition of goods and services on behalf of the buying entity. Purchasing activities are needed to ensure that needed items are obtained in a timely manner and at a reasonable cost.
Detailed explanation-2: -Purchasing of materials refers to the procurement of materials for a price. It is usually handled by a specific department (e.g., purchase manager in the procurement department), particularly in large companies.
Detailed explanation-3: -Purchase Method in accounting is a process of inventory costing whereby a company purchases goods and services for cash. It is a common accounting method used to account for the purchase of stock on hand, also known as inventory.
Detailed explanation-4: -Purchasing is defined as the process of acquiring goods or services in exchange for money. In a business setting, purchasing is usually done by a department or team of employees working together to identify and buy the products or services that their company needs.