Unplanned Purchases of Items Needed Quickly,often at Non-Prenegotiated Higher Prices,best

question 84

Multiple Choice

Unplanned purchases of items needed quickly,often at non-prenegotiated higher prices,best defines

• A) impulse purchases.
• B) free market.
• C) MRO purchasing.
• D) maverick buying.

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Definitions:

Trial Balance

A trial balance is a bookkeeping report that lists the balances in each of an organization's general ledger accounts, typically used to check the mathematical accuracy of bookkeeping entries.

Incorrect Account Titles

Errors in the naming or categorization of accounts in the financial records, which can impact the accuracy of financial reporting.

Journalizing

The entering of transaction data in the journal.

Trial Balance

A bookkeeping worksheet listing the balances in each ledger account, used to verify that the sum of debits equals the sum of credits.