Outsourcing is a contract in which one company contracts another company to handle a planned or ongoing operation that is being or might be handled internally. The given statement is true.
Outsourcing is a contract in which one company contracts another company to handle a planned or ongoing operation that is being or might be handled internally. It occasionally entails the transfer of assets and people from one company to another. A business practise known as outsourcing entails hiring a third party to carry out duties, manage operations, or offer services on the company's behalf.
The best instances of outsourcing are in advertising, office and warehouse cleaning, and website creation. The majority of business owners assign control to outside professionals for tasks like bookkeeping, maintenance, and hiring. This enables businesses to concentrate the majority of their resources on the primary operation.
Hence, The given statement is true. A small business decides to hire a local accounting firm to handle its accounting needs instead of hiring an accountant. As an illustration of outsourcing.
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