Once a Vendor Is Selected for a Product,the Vendor's Identity

question 18

Multiple Choice

Once a vendor is selected for a product,the vendor's identity is recorded in the

• A)purchase requisition transaction file.
• B)purchase requisition master file.
• C)inventory transaction file.
• D)inventory master file.

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Definitions:

Price Falls

A situation where the market price of a good or service decreases.

Total Revenue

The gross income a company generates from selling products or offering services, before deducting any costs.

Price Rises

Occurs when the cost of goods or services increases over a period of time, influenced by factors like inflation, supply and demand imbalances, or increased production costs.

Demand Is Elastic

A condition where the quantity demanded of a good or service is sensitive to changes in its price, illustrating a greater than proportional response.