Figure 5-4 -Figure 5-4 Shows the Three Buy Classes Encountered by Organizational

question 179

Multiple Choice

Figure 5-4
-Figure 5-4 shows the three buy classes encountered by organizational buyers. C is referred to as a

• A) modified rebuy.
• B) straight rebuy.
• C) new buy.
• D) standard reorder.
• E) altered buy.

---

Definitions:

Bank Checking Account

A bank account that allows the holder to deposit and withdraw money and write checks.

Postdated Check

A check written with a future date, preventing it from being cashed or deposited until that date.

Bank Reconciliation

The process of matching and comparing figures from the accounting records against those presented on a bank statement to ensure they are in agreement.

Deposit in Transit

Funds that have been deposited by a company in its bank account but have not yet been recorded by the bank, leading to a timing difference in the company's accounting records.