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The purchasing function
Within an enterprise that follows a combination of a centralised and decentralised structure, which one of the following statements is correct?
1. The decentralised purchasing function formulates the purchasing policy.
2. The decentralised purchasing function purchases capital equipment.
3. The centralised purchasing function enters into long-term contracts on behalf of the enterprise.
4. The centralised purchasing function provides for the special needs and small purchases for the branch.
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