Contracting with vendors outside the organization to obtain or acquire goods and/or services is called
A)target costing.
B)insourcing.
C)outsourcing.
D)product harvesting.

Question

Quizplus · Accepted Answer

Outsourcing is the process of contracting with vendors outside the organization to obtain goods and/or services. Target costing is a cost management method, insourcing means doing work within the organization rather than outsourcing, and product harvesting refers to discontinuing a product line or service.

Contracting with Vendors Outside the Organization to Obtain or Acquire