Which of the following are sourced or procured during the purchasing process? a) Raw materials b) Finished goods c) Services d) Labor

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asked Jan 10, 2024 209k views

1 Answer

Skie · Answer 1 · 2024-01-14T15:04:47+0000

Raw materials, services, and labor are sourced or procured during the purchasing process.

The resources that are sourced or procured during the purchasing process are:

Raw materials: These are the basic materials that are used to manufacture finished goods. For example, in a clothing manufacturing company, fabric and thread are raw materials.
Services: These are intangible activities that are purchased to fulfill certain needs. For example, hiring a transportation service to deliver the finished goods to customers.
Labor: This refers to the workforce required to produce goods or provide services. In the purchasing process, labor might be procured through recruitment or contract agreements.