Multiple Choice
Under the topic of 'Types of Receivables,' all individuals covered under a group contract will receive a(n):
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7. Receivables and Investments
Types of Receivables
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Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
The process of choosing suppliers or sellers is known as _____.
A
Factoring
B
Vendor selection
C
Credit analysis
D
Accounts receivable
Verified step by step guidance1
Understand the context of the question: The process of choosing suppliers or sellers is a key part of procurement and supply chain management. It involves evaluating and selecting vendors who can provide goods or services to meet the organization's needs.
Review the options provided: Factoring, Vendor selection, Credit analysis, and Accounts receivable. Each term has a specific meaning in financial accounting and business operations.
Define each term: Factoring refers to selling accounts receivable to a third party for immediate cash. Vendor selection is the process of evaluating and choosing suppliers. Credit analysis involves assessing the creditworthiness of a borrower. Accounts receivable represents money owed to a company by its customers.
Match the definition to the question: The process of choosing suppliers or sellers aligns with the definition of Vendor selection.
Conclude that the correct answer is Vendor selection, as it directly corresponds to the process described in the question.
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