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E OBJ 4.02 Vocab

Authored by Andrea Cooper

Business

9th - 12th Grade

Used 33+ times

E OBJ 4.02 Vocab
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9 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Guarantee

A promise made to the consumer that a product’s purchase price will be refunded if that product is not satisfactory; often called a money-back guarantee

The formal, printed record of a sale that includes all necessary information as to the buyer, the seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc.

The process of one party reaching an agreement with another party to meet specific needs and wants

The buying of goods and services for a business

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Invoice

The formal, printed record of a sale that includes all necessary information as to the buyer, the seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc.

The form that a business fills out to order goods; may be the same as a purchase agreement or purchase contract

A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected

A purchase contract that lists the good or service to be purchased, the quantity to be purchased, the price, terms of delivery, payment information, warranty and guarantee information, and other details as needed

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Manufacturer

Standards that are established and described in detail; requirements

The process of one party reaching an agreement with another party to meet specific needs and wants

A type of producer that changes the shapes or forms of materials so that they will be useful to consumers

A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Negotiation

A promise made to the consumer that a product’s purchase price will be refunded if that product is not satisfactory; often called a money-back guarantee

The formal, printed record of a sale that includes all necessary information as to the buyer, the seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc.

The process of one party reaching an agreement with another party to meet specific needs and wants

Standards that are established and described in detail; requirements

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Purchase agreement

A purchase contract that lists the good or service to be purchased, the quantity to be purchased, the price, terms of delivery, payment information, warranty and guarantee information, and other details as needed

The form that a business fills out to order goods; may be the same as a purchase agreement or purchase contract

The process of one party reaching an agreement with another party to meet specific needs and wants

A promise made to the consumer that a product’s purchase price will be refunded if that product is not satisfactory; often called a money-back guarantee

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Purchase order

The form that a business fills out to order goods; may be the same as a purchase agreement or purchase contract

A purchase contract that lists the good or service to be purchased, the quantity to be purchased, the price, terms of delivery, payment information, warranty and guarantee information, and other details as nee

A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected

The formal, printed record of a sale that includes all necessary information as to the buyer, the seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Purchasing

The buying of goods and services for a business

The process of one party reaching an agreement with another party to meet specific needs and wants

A promise made to the consumer that a product’s purchase price will be refunded if that product is not satisfactory; often called a money-back guarantee

Standards that are established and described in detail; requirements

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