ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When goods are to be imported, which of the following actions should the procurement department take before ordering them?I. Enquire whether the import regulations permit the goods to be brought into the countryII. Find out what documents are required for the goods to be imported and apply for themIII. Complete a purchase requisition form if the goods are not in stockIV. Obtain the necessary foreign currency
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I, II and III only
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I, II and IV only
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II, III and IV only
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I, II, III and IV
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Explanation:
Detailed explanation-1: -A purchase order is a commercial source document that is issued by a business’ purchasing department when placing an order with its vendors or suppliers.
Detailed explanation-2: -Stocktaking by inventory department. Screening by purchasing department. Generating a purchase order. Order delivery and assessment. Invoice payment. Makes the procurement process transparent. Streamlines the purchasing process. Helps prevent fraud. More items
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