Buying of goods or services from suppliers or vendors of some other country instead of local supplier is classified as
A. outsourcing
B. insourcing
C. idle sourcing
D. sunk sourcing
Answer: Option A
Solution(By Examveda Team)
Buying of goods or services from suppliers or vendors of some other country instead of local supplier is classified as outsourcing. Outsourcing is the business practice of hiring a party outside a company to perform services and create goods that traditionally were performed in-house by the company's own employees and staff. Outsourcing is a practice usually undertaken by companies as a cost-cutting measure.Related Questions on Management Accounting
A. resourcing
B. value acquiring
C. production
D. value acquaintance
Examining of past performance, exploring alternative and planning future is
A. learning
B. alternating
C. examining
D. deciding
Time that a company takes to create and produce a new product is classified as
A. management factor
B. time factor
C. customer factor
D. chain factor
Purpose of management accounting is to
A. past orientation
B. help banks make decisions
C. help managers make decisions
D. help investors make decision
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