A/An _____ Is an Open Order, Usually Effective for One

question 64

Multiple Choice

A/An _____ is an open order, usually effective for one year, covering repeated purchases of an item or family of items.

• A)outstanding order
• B)pending order
• C)blanket purchase order
• D)completed order
• E)order acceptance

---

Definitions:

Selling Expense

Costs associated with the distribution, marketing, and sale of a product or service, including advertising, sales commissions, and retail space rental.

Depreciation

The systematic allocation of the cost of a physical asset over its expected useful life.

Merchandise Inventory

Merchandise inventory consists of products that a company intends to sell in the regular course of business.

Building Contractors

Professionals or companies responsible for the construction, repair, or renovation of buildings, overseeing project completion from start to finish.