Which among the following is an example of a procurement action?

A purchase order is indeed a prime example of a procurement action because it is a document that authorizes a supplier to deliver goods or services at specified terms. This formal agreement is an essential part of the procurement process, as it represents a commitment to pay for the goods or services that the buyer has requested. The purchase order serves as a legal document that outlines the details of the transaction, including quantities, prices, and delivery dates, facilitating clear communication and accountability between the buyer and supplier.

In contrast, an internal memo mainly serves for communication within an organization and doesn't directly engage with purchasing processes. A financial report focuses on the financial status and performance of an organization rather than specific procurement activities. Market research, while relevant to understanding what to procure and from whom, does not qualify as a procurement action in itself since it does not directly involve the act of purchasing or ordering goods or services.