The Computer File of Purchase Orders Submitted to Vendors for Which

question 7

Multiple Choice

The computer file of purchase orders submitted to vendors for which the goods or services have not been received is the:

• A) open purchase order file.
• B) approved vendor master file.
• C) suspense file.
• D) accounts payable master file.
• E) purchase transactions file.

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Definitions:

Price Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good to a change in its price.

Excise Tax

A tax levied on specific goods or services at the point of manufacture, purchase, or sale, distinct from general sales taxes.

Incidence

The occurrence, rate, or frequency of a disease, crime, or something else undesirable.

Regressive Tax

A tax system where the tax rate decreases as the taxable amount increases, placing a higher relative burden on lower-income individuals.