The direct exchange of goods and/or services between two parties without a cash transaction is referred to as:

Which method may be used to record cash discounts a company receives for paying suppliers promptly?

a. Net method. b. Gross method. c. Average method. d. a and b.

A team has just gathered information and requirements for a new project that will be completed by an external company. If the project manager is just starting the procurement process, which one of the following should be done LAST?

A. Seek expert judgement from a variety of resources including industry groups, consultants, and other divisions of her organization. B. A make-or-bay analysis C. Finalize the terms and conditions of the contract D. Contract type selection including fixed-price, unit price, and cost-reimbursable contracts