33) Suppliers

Question 1

What are the factors that need to be considered when deciding on a supplier called?

Answer 1

Purchasing mix

Question 2

What factors does the choice of supplier depend on?

Answer 2

Ron materials, price, quality, quantity, reliability, delivery, credit, location

Question 3

What is buying on credit from a supplier?

Answer 3

Buying on credit allows the business to purchase the raw materials then manufacture and sell their products before making a payment to the supplier which can help cash flow