Terms and Conditions for a Purchased Service That Indicate What

question 17

Multiple Choice

Terms and conditions for a purchased service that indicate what services will be performed and how the service provider will be evaluated are called a:

• A)request for quotation.
• B)bid specification.
• C)preferred supplier contract.
• D)statement of work.

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Definitions:

Factoring Of Receivables

The sale of a business's accounts receivable to a third party, at a discount, for immediate cash.

Accounts Receivable Period

The typical duration for an enterprise to gather owed payments from its customers.

Sale Of Inventory

The process of selling the goods that a business has produced or bought to its customers.

Receipt Of Inventory

The process of acknowledging or taking in goods received, usually marking the physical arrival of stock in a business.