After the Supplier's Invoice Is Received Which Document(s) Are Needed

question 26

Multiple Choice

After the supplier's invoice is received which document(s) are needed to approve payment?

• A) The approved budget and the purchase order.
• B) The purchase order and the receiving report.
• C) The purchase order and the invoice.
• D) The bill of lading and the receiving report.
• E) Approval can be made from the purchase order.

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Definitions:

Total Output

The complete quantity of goods and services produced by an economy in a given period.

Life Expectancy

The average number of years an individual or group is expected to live, often used as a statistical measure of health and well-being in a population.

Input Markets

Markets where firms buy resources, services, and goods they need to produce their own products or provide services.

Substitute Good

A product or service that serves as an alternative to another, where an increase in the price of one leads to an increase in demand for the other.