Question

The first main step of the procure-to-pay cycle is __________; the most common way this step begins is through the release of a purchase order. A purchase order (PO) is simply a document that authorizes a supplier to deliver a product or service and often includes terms and conditions, such as price, delivery, and quality requirements.

Answer 1

Answer:

Create a PO/spot buy

Explanation:

Create a PO/spot buy

If the requested goods/products have characteristics such as unmanaged category buys, one-time unique purchases, or low-value commodities, then a spot buy can be performed. Else, purchase orders are created from approved purchase requisitions.