LONG QUIZ - MIDTERM

Receiving goods without proper documentation can lead to inventory discrepancies and financial losses.

• True

• False

Vendor evaluation is an important step in the purchasing process to assess supplier performance.

• True

• False

Receiving discrepancies occur when the quantity or quality of goods received does not match the purchase order.

• True

• False

Purchasing decisions are primarily influenced by the availability of funds rather than the organization’s needs.

• True

• False

Receiving inspections involve checking the quantity, quality, and condition of goods or services upon delivery.

• True

• False

In the purchasing process, negotiation with suppliers is typically done after receiving goods or services.

• True

• False

Receiving reports are created by suppliers to confirm that goods or services have been received by the buyer.

• True

• False

Purchase orders are legal documents issued by suppliers to buyers, specifying details of the goods or services to be provided.

• True

• False

Receiving involves inspecting and documenting the goods or services received by an organization.

• True

• False

Purchasing is the process of acquiring goods or services for an organization.

• True

• False