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Business Transaction Essentials Quiz

Authored by Kelly La Flamme

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University

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Business Transaction Essentials Quiz
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21 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of an estimate or quotation in a business transaction?

To finalize the purchase order

To establish a price for supply

To issue an invoice

To provide a statement of account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a purchase requisition?

A document listing items required for purchase

A bill for goods or services supplied

A statement showing payments and credits

A note detailing goods dispatch

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should be checked against the delivery note?

The invoice

The purchase requisition

The goods received

The statement of account

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What information must an invoice include?

Only the total cost

The supplier's contact details

Who it is from, who it is going to, product details, and total cost

The delivery schedule

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a statement of account used for?

To list items required for purchase

To show payments and credits over a set period

To establish a price for supply

To detail goods dispatch

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor is NOT considered when selecting products/suppliers?

Suitability for purpose

Price

Discounts available

Delivery speed

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a factor to consider when choosing a supplier?

Color of the supplier's logo

Delivery charges that may apply

Number of employees at the supplier

Location of the supplier's headquarters

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