List and briefly discuss the three different kinds of purchases or buy classes made by organizations
What will be an ideal response?
a. Straight rebuy – routine purchases from the same suppliers used in the past.
b. Modified rebuy – purchasing situations in which something has changed since the last purchase, such as a new potential supplier or a large change in price levels.
c. New task purchase – is made when the purchasing situation is unusual or occurs infrequently.
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An auditor's engagement letter most likely will include
A. Management's acknowledgment of its responsibility for maintaining effective internal control. B. The auditor's preliminary assessment of the risk factors relating to misstatements arising from fraudulent financial reporting. C. A reminder that management is responsible for illegal acts committed by employees. D. A request for permission to contact the client's lawyer for assistance in identifying litigation, claims, and assessments.
Refer to Additional Case 13.1. The best means for Randall to communicate information is most likely through a:
Additional Case 13.1 The HR department at Devlin Enterprises has a variety of communication tasks it has been assigned to handle. First, Isabelle, the HR benefits specialist, needs to communicate recent benefits policy changes to all employees at Devlin. Second, Randall, an operations manager, wants to provide feedback to his subordinates about their performance in his TQM program. Randall also wants to let other managers and employees at Devlin know how well his TQM teams are performing each day. Finally, David, a customer service manager, requests low-cost training for some of his customer service representatives who work from off-site telemarketing centers. A) company newsletter. B) social network site. C) bulletin board. D) memo.