Asked by Adriana Davis on May 05, 2024
Verified
What is the small business manager's priority when purchasing?
A) best value
B) lowest price
C) highest quality
D) highest price
Small Business
A business is generally considered small if it is independently owned, operated, and financed; has fewer than 100 employees; and has relatively little impact on its industry.
Purchasing Priority
The practice of prioritizing procurement activities based on factors such as urgency, price, or importance to the business.
- Ascertain the financial outlays linked to inventory and prioritize acquisition decisions.
Verified Answer
CM
carlos munizMay 12, 2024
Final Answer :
A
Explanation :
The priority for a small business manager when purchasing is to obtain the best value, which balances cost with quality and service to meet the business's needs effectively.
Learning Objectives
- Ascertain the financial outlays linked to inventory and prioritize acquisition decisions.
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