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rusak2 [61]
2 years ago
6

Purchase order processing requires distributing, allocating and executing funds, ensuring that funds are not over-committed, and

allowing the
Business
1 answer:
kobusy [5.1K]2 years ago
5 0

Answer:

Hi, so it apprears that this question is about Purchase Order processing.

Whilst it is important to note that the steps used in purchasing process differs from company to company depending on their policies and practices, There are also very generic steps that cut accross board. They are:

Here are the steps involved:

1. Creation of the Purchase Order

2. Approval of the Purchase Order

3. Dispatch of the Purchase Order

4. Making and taking delivery of the good(s) and or service(s) that was requested whilst checking to confirm their consistency with what was ordered.

5. Issurance of Invoice by the supplier to the purchaser demanding payment for good(s) and or service(s) delivered

6. Checking that the invoice, the purchase order and the cotents of the delivery note all synchronise before making payment.

Explanation:

Purchase order management is a subset of Financial Management. Management of finance as the name implies connotes the proper and judicial management of cashflow.

When purchae orders are reviewed, it is with the intention to check

  1. whether or not the items ordered are no longer required
  2. whether or not the supplier is unable to provide or deliver the requested item(s) and or service(s)
  3. whether or not an invoice has been treated for a recieved devlivery

In doing so, funds are allocated properly (that is, there are no critical shortfalls or excessive commitment of funds. This allows for proper cashflow management.

Cheers!

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Full question:

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A. Using supply/demand analysis and words, demonstrate what a weakly enforced antiscalping law would likely do to the price of tickets.

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Answer and Explanation:

A. For the first scenario, a weakly enforced antiscalping law would still allow the resale of tickets as it is not enforced properly. Therefore it's effect on price would remain as though there were no laws restricting scalping( scalping: price increase created by artificial shortage and bulk resale of tickets) . See the attached diagram for the supply and demand curve and price increase as a result of a weak antiscalping law

B. For the second scenario, scalping has no effect on price as antiscalping laws are strong and therefore there is no scalping. Price remains the same and does not change.

In diagram A for first scenario price increases from p1 to p2 and quantity decreases from q1 to q2 to indicate increase in price and quantity decrease for shortage respectively. This shows the effect of scalping on the market with weak antiscalping laws

In diagram B, price and quantity remain the same to show strong antiscalping laws

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