The acquisition/payment process:
A)Helps an organization create value for its stakeholders.
B)Can only be applied if an organization sells a product.
C)Both helps an organization create value for its stakeholders and can only be applied if an organization sells a product.
D)Neither helps an organization create value for its stakeholders nor can only be applied if an organization sells a product.

Question

Quizplus · Accepted Answer

The acquisition/payment process refers to the entire set of activities involved in the purchasing and payment of goods and services, including vendor selection, negotiation, contracting, ordering, receiving, and invoicing. By effectively managing this process, an organization can create value for its stakeholders by reducing costs, improving the quality of goods and services, and maintaining excellent relationships with suppliers. The acquisition/payment process is not limited to organizations that sell products - it is important for any organization that buys goods or services to carry out its operations, including service organizations.

The Acquisition/payment Process