A Request for Proposal (RFP)

question 107

Multiple Choice

A request for proposal (RFP) :

• A)is used when the customer has a firm idea of the product needed.
• B)is often referred to as a payback period request.
• C)means that the salesperson will not need to use the needs identification process.
• D)should be prepared using the finest paper, printing, and ink available as well as the skill of your most adept marketers.
• E)is used when the salesperson has a firm idea of the product needed.

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Definitions:

Perpetual Inventory Method

The perpetual inventory method is a system of accounting for inventory that continuously updates the quantity and value of inventory items after every transaction.

Journalize

The act of recording transactions in the accounting journals as part of the bookkeeping process.

Terms 2/10, N/30

Payment terms indicating a 2% discount if paid within 10 days, otherwise the net amount (total invoice) is due within 30 days.

Debit Memorandum

A document issued by a buyer to a seller indicating a debit made to the seller's account, often due to returned goods or errors in the invoice.