Asked by Louie Allard on Jul 15, 2024
Verified
A form used within a business by the requesting department asking the purchasing department to buy specific goods is called a(n) :
A) purchase order.
B) purchase requisition.
C) credit memorandum.
D) employee memorandum.
Purchase Requisition
An internal document used within an organization to request authorization for a purchase before a purchase order is issued.
Purchase Order
An official document issued by a buyer committing to pay the seller for the sale of specific products or services to be delivered in the future.
Credit Memorandum
A document issued by a seller indicating a reduction in the amount that a buyer owes, often due to a return or refund.
- Understand the role and importance of different documents in the purchasing cycle.
Verified Answer
SH
Samuel HanshewJul 21, 2024
Final Answer :
B
Explanation :
A purchase requisition is a document used within a company to request that the purchasing department acquire goods or services. It is typically the first step in the purchasing process, indicating the need for specific items but not committing the company to a purchase.
Learning Objectives
- Understand the role and importance of different documents in the purchasing cycle.