Monopolies ________ Fair and ________ Efficient

question 3

Multiple Choice

Monopolies ________ fair and ________ efficient.

• A) are never; are always
• B) might be; are always
• C) are always; are not
• D) are always; are always
• E) might be; might be

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Definitions:

Voucher

A document that serves as evidence for a transaction and authorizes a payment.

Purchase Requisition

An internal document used by an organization to request permission for a purchase before initiating the actual procurement process.

Purchase Order

A formal document sent from a buyer to a seller, requesting the purchase of goods or services, outlining quantities and prices.

Voucher Register

A record keeping system that tracks the issuance, payment, and cancellation of vouchers, detailing financial transactions such as payments made or received.