Purchasing goods and services from suppliers is known as

Name: Purchasing goods and services from suppliers is known as
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Procurement refers specifically to the process of obtaining goods and services from external suppliers, and is therefore the most accurate option. The other options (buying, acquiring, purchasing) are more general and could refer to any method of obtaining goods and services, including internal processes such as production or in-house services.

Purchasing Goods and Services from Suppliers Is Known as