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Pie
2 years ago
5

Week 1: Roles and Responsibilities in the Procurement Cycle

Business
1 answer:
sp2606 [1]2 years ago
6 0

The project's procurement cycle (plan, conduct and control) according to the PMBOK Guide has as its central objective that external procurement for the execution of the project effectively meets your needs.

<h3>Planning</h3>

Planning corresponds to the stage where the purchasing requirements for the project are identified. A working document is developed with a detailed and specific request for proposal and invitation to bid.

It is in the planning phase where potential suppliers and vendors for hiring are identified.

<h3>Conduction</h3>

During the conduction phase, the acquisition agreements are signed and a plan for project management is carried out, with information regarding the cost, budget and schedule of the chosen supplier.

<h3>Control</h3>

In the control phase, it is up to the project manager to review the agreements, monitor the flow of work, progress and team performance to meet the budget and schedule.

Find out more information about procurement cycle here:

brainly.com/question/22590420

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The appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.

<h3>Journal entry</h3>

Based on the information given the correct entry to record this transaction is:

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{$1300+[($1300×4%)-($1300×3%)]}

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Debit Sales Discount $39

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Inconclusion the appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.

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2 years ago
A good economic theory is best described as one that:: A. Is true. B. Realistically depicts the real world economists are trying
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8 0
2 years ago
Lee is considering buying one of two newly-issued bonds. Bond A is a twenty-year, 7.5% coupon bond that is non-callable. Bond B
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However, if Lee purchases Bond B with current coupon of 8.25%,the interest is only guaranteed for a period of two years,since the issuer has the prerogative of calling back the bond after two years should interest fall in order to issue another bond that commands lower interest rate.

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