A Requisition

question 19

Multiple Choice

A requisition

• A) is only used for nonroutine purchases.
• B) is the same as a purchase order.
• C) sets the terms under a negotiated contract.
• D) is a formal contract between a buyer and a seller.
• E) none of these choices is correct.

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Definitions:

Tax Exemption

A portion of income or transaction that is free from tax by law, reducing the taxable income or value.

Dividend Income

Income received from owning shares in a company, typically paid out from the company's profits to its shareholders at regular intervals.

Date of Record

The specific date on which a company determines its shareholders' eligibility to receive dividends or share distributions.

Resolution to Pay

A formal decision made by a company's board of directors to distribute funds, often as dividends, to shareholders.