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Which of the following is not an objective of the purchasing process? Inventory control Purchases Returns...

Which of the following is not an objective of the purchasing process?

Inventory control

Purchases Returns

Maintaining vendor records

Forecasting cash flows

None of the above

Business   Accounting   
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Answer #1

OPTION - NONE OF THE ABOVE.

All the listed are the objectives of the purchasing process.

To take the Inventory controls like just in time purchases, order the goods as and when required.

Purchase returns should be the internal policy If the quality of goods supplied by suppliers is not good or at standard.

The details or records of the vendors should be maintained and updated properly with adequate controls.

The cost benefit analysis should be performed and the cost analysis should also be performed.

If you have any doubts please comment on the answer.

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