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Create an image of a modern office space with documents like RFQs, Purchase Orders, and Sales Orders scattered on a desk, with a person analyzing them and a computer in the background displaying graphs and statistics.

Master the Basics of Business Transactions

Test your knowledge about essential business documents and processes with our engaging quiz! Dive into topics such as Request for Quotations, Purchase Orders, and Sales Orders, and see how well you understand the commercial landscape.

15 multiple-choice questions
Score based on your responses
Suitable for business enthusiasts and professionals

15 Questions4 MinutesCreated by LearningGuide423

It is a document that an organization submits to one or more potential suppliers eliciting quotations for a product or service

Purchase order

Sales Order

LOI

RFQ

Businesses use ____________ to summarize all the details that they requested in their Request for Quotation.

Canvass Sheet

Purchase order

Sales Order

Canvass Shit

You can see all these details in RFQ except for:

Company name

Logo

Products

Customer name

None of the above

This indicates the product name, description, unit prices, total, and etc.

RFQ

Canvass Sheet

Purchase Order

Sales Order

This column indicates information why you like their product, services and special offer

LOI

Sales Order

Purchase Order

Recommendation Note

Is a written (or electronic) document meant to record business transactions between a buyer and a seller

Purchase Order

Sales Order

Good receipt note

A process which includes exchange of goods and services with corresponding forms

Purchase Order

RFQ

Trading

Selling

A sales order is a document generated by the seller upon receiving a purchase order from a customer/buyer

Purchase order

Sales order

Trading

Is a receipt or a note that customer uses to validate the receipt of ordered products

Receipt Note

Good Receipt Note

Recommendation Note

After preparing for the Sales Order and ready to deliver they will also use ____________ to validate from the buyer that all of the order are in good condition.

Recommendation Note

GRN

Thank you note

After the Canvass Sheet the customer/buyer can decide which product and service he/she is going to purchase. Now he/she can send the __________ to the supplier.

Sales Order

RFQ

Purchase order

When the seller received the P.O. “Purchase Order” from the customer/buyer then seller will send this document which is ___________

Canvass Sheet

Purchase Order

Sales Order

GRN

Request for Quotation helps the customer or the clients to decide which product is the __________.

Best to buy

Bad to buy

Best to afford

What is the 1st step in cycle of Trading

RQF

Canvass Sheet

GRN

Purchase Order

What is the 5th step in Cycle of Trading

GRN

Canvass Sheet

Purchase order

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