The purchasing team examined all of its purchasing patterns in order to identify any irregularities or possible areas of cost savings. This refers to:
A)internal auditing.
B)purchase consolidation.
C)spend analysis.
D)cooking the books.

Question

Quizplus · Accepted Answer

This refers to a spend analysis, which involves reviewing purchasing patterns in order to identify any areas of cost savings or irregularities. Internal auditing refers to a broader examination of an organization's financial practices, while purchase consolidation involves combining multiple smaller purchases into one larger purchase to achieve cost savings. "Cooking the books" refers to fraudulent accounting practices.

The Purchasing Team Examined All of Its Purchasing Patterns in Order