Which of the following is an objective of the purchasing process?
A)Collecting information for the financial statements
B)Making timely and accurate vendor payments
C)Forecasting cash requirements
D)Tracking bills of lading

Question

Quizplus · Accepted Answer

The objective of the purchasing process is to ensure timely and accurate payments to vendors for goods and services received. While tracking bills of lading and forecasting cash requirements might be elements of the purchasing process, they are not the primary objectives. Collecting information for financial statements is also not an objective of the purchasing process, although the process may provide information that is useful for financial reporting purposes.

Which of the Following Is an Objective of the Purchasing