Purchasing Vocab List

A person or organization that purchases goods or services is known as a:

• Manufacturer

• Buyer

• Negotiation

• Warranty

A promise made by the seller to the buyer that certain conditions will be fulfilled is called a:

• Invoice

• Purchase Order

• Guarantee

• Specifications

A document sent by the seller to the buyer that lists the goods or services provided, along with their prices and the total amount due is called an:

• Invoice

• Purchase Agreement

• Warranty

• Negotiation

A company or person that makes products to sell, usually in large quantities, is known as a:

• Buyer

• Manufacturer

• Purchasing Agent

• Procurement Manager

A discussion between two or more parties aimed at reaching an agreement, often about the terms of a sale or contract, is called a:

• Purchase Order

• Negotiation

• Specifications

• Warranty

A person responsible for overseeing the process of acquiring goods and services for a business is known as a:

• Procurement Manager

• Manufacturer

• Buyer

• Invoice

A contract between a buyer and a seller outlining the terms and conditions of a sale, including the price, quantity, and delivery details, is called a:

• Purchase Order

• Purchase Agreement

• Guarantee

• Specifications

A document issued by the buyer to the seller that specifies the items, quantities, and agreed prices for products or services the buyer intends to purchase is called a:

• Invoice

• Purchase Order (PO)

• Guarantee

• Warranty

The process of acquiring goods or services in exchange for money, involving steps like identifying needs, selecting suppliers, and making the purchase, is known as:

• Manufacturing

• Negotiation

• Procurement

• Warranty

A person responsible for finding and buying the goods and services a business needs, who researches suppliers, is called a:

• Purchasing Agent

• Manufacturer

• Buyer

• Procurement Manager