When Purchasing Inventory,which Document Usually Triggers the Recording of a Liability

question 78

Multiple Choice

When purchasing inventory,which document usually triggers the recording of a liability?

• A)purchase requisition
• B)purchase order
• C)receiving report
• D)supplier's invoice

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Definitions:

Business Representative

An individual who acts on behalf of a business entity in dealings with others, such as negotiations or partnerships.

Secretary-Treasurer

A combined executive role in organizations, responsible for both the secretarial duties and the financial management of the entity.

Negotiate Contracts

The process of discussing the terms of a contract between two or more parties to reach a mutual agreement.

Union Instrumentality

The perceived effectiveness of a labor union in achieving desired outcomes or goals for its members.