Once the Company Receives the Inventory, It Prepares A(n) ________

question 161

Multiple Choice

Once the company receives the inventory, it prepares a(n) ________ to list the goods received.

• A) invoice
• B) purchase approval form
• C) receiving report
• D) EFT transfer

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Definitions:

Surety

A person, such as a cosigner on a note, who agrees to be primarily responsible for the debt of another.

Guarantor

A person who agrees to satisfy the debt of another (the debtor) only after the principal debtor defaults. A guarantor’s liability is thus secondary.

Short Sale

A sale of real property for an amount that is less than the balance owed on the mortgage loan, usually due to financial hardship.

Judicial Foreclosure Sale

The process of selling mortgaged property under court supervision to pay off debts incurred by the property owner.