Which three of the following are involved in the purchasing cycle?
A)Establishing payment terms
B)Selecting vendors
C)Purchasing goods
D)Selling goods

Question

Quizplus · Accepted Answer

Establishing payment terms is crucial in the purchasing cycle as it determines the financial aspects of the transaction. Selecting vendors is an important step in the process to ensure quality products at the best possible price. Purchasing goods is the main objective of the purchasing cycle. Selling goods is not a part of the purchasing cycle as it involves the opposite direction of the flow of goods and money.

Which Three of the Following Are Involved in the Purchasing