A Document Identifying the Description, Supplier, Quantity and Related Information

question 122

Multiple Choice

A document identifying the description, supplier, quantity and related information for goods and services the company intends to purchase is the:

• A) purchase requisition.
• B) receiving report.
• C) purchase order.
• D) purchase catalogue.

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Definitions:

Break-even Sales

The amount of revenue required to cover both fixed and variable expenses, resulting in zero profit.

Recent Month

The latest completed month period for which data or details are considered or analyzed, typically in a financial or operational context.

Break-even Point

The level of production or sales at which total revenues equal total expenses, resulting in no profit or loss.

Unit and Dollars

Refers to the measure of financial and physical quantities in terms of units (number of items) and their monetary value in dollars.