Which Document Authorizes the Purchase of Inventory from an Approved

question 24

Multiple Choice

Which document authorizes the purchase of inventory from an approved vendor?

• A) purchase order
• B) petty cash voucher
• C) receiving report
• D) vendor's invoice

---

Definitions:

Utility Function

An economic model that measures preferences over a set of goods and services.

Budget Constraint

An economic model that represents all the combinations of goods and services a consumer can purchase given their income and the prices of those goods and services.

Bundle

A collection of goods or services that are sold together.

Marginal Rate of Substitution

The rate at which a consumer is willing to give up some amount of one good in exchange for another good while keeping the same level of utility.