Collection Development Quiz

It refers to the obligation to explain and justify the use of resources. What is this?

• Transparency
• Responsibility
• Accountability
• Efficiency

It is an accounting term that refers to the money an institution owes to its suppliers or vendors for goods or services that have been received but not yet paid for. This is called?

• Cash on Hand
• Accounts Payable
• Inventory
• Accounts Receivable

This is a money owed to a business by its customers for goods or services already provided. This is called?

• Cash on Hand
• Inventory
• Accounts Payable
• Accounts Receivable

It is the official allocation of funds for a specific purpose or project. This is called?

• Grant
• Appropriation

• Fundraising
• Expenditure

A system where a library or organization automatically receives materials that match pre-set criteria is called?

• Approval Plan

• Appropriation

• Inventory

• Fund

An examination of financial records to ensure accuracy and compliance with regulations. This is called?

• Financial Analysis
• Bookkeeping
• Auditing
• Accounting

A long-term order for products or services to be delivered as needed without repeated approvals. This is called?

• blanket order

• conditional purchase
• temporary order
• standing agreement

It is a document used to request items or services, often sent from a buyer to a supplier to confirm the purchase. This is called?

• Purchase Order
• Receipt
• Invoice
• Quotation

It is a formal request for items or services, typically submitted by an employee or department to the purchasing department. This is called?

• Purchase Requisition
• Supply Request
• Invoice Request
• Purchase Order

It is a payment arrangement for ongoing services or publications, such as journals or magazines, typically renewed on a regular basis. This is called?

• contract agreement
• subscription fee
• subscription
• membership