Chap 25

Question 1

Letter of enquiry definition

Answer 1

When a business wants to buy from another business

Question 2

WHat is terms of sale

Answer 2

Conditions attached to a sale

Question 3

What is a quotation

Answer 3

Written document that a seller sends to a potential buyer that shows the price of the goods and any terms of sale

Question 4

What does E&OE stand for

Answer 4

Error and omissions excepted

Question 5

What does COD and CWO stand for

Answer 5

Cash on delivery and cash with order

Question 6

List three factors in stock control

Answer 6

Costs, storage and how long does it take for an order to be delivered from supplier

Question 7

What is delivery note

Answer 7

Document sent by the seller to the buyer that lists the items being delivered

Question 8

What is an invoice

Answer 8

A bill

Question 9

What is credit note

Answer 9

Document sent by the seller to the buyer to explain a reduction in the amount owed

Question 10

What is a debit note

Answer 10

Document sent by the seller to the buyer to explain an increase in the amount owed

Question 11

What is a receipt

Answer 11

Document stating that goods have been paid for