Purchase order (PO ) is a commercial document
issued by a buyer
to a seller, indicating types, quantities, and
agreed prices for products or services the seller will provide to the buyer.
Sending a purchase order to a supplier constitutes a legal offer to buy
products or services. Acceptance of a purchase order by a seller usually forms
a one-off contract
between the buyer and seller, so no contract exists until the purchase order is
accepted.
Saturday, 18 February 2012
Subscribe to:
Post Comments (Atom)
Contra entry example
Contra Entry :- If a transaction requires entries on both the debit and the credit sides simultaneously, it is called 'Contra entry&...
-
This is the basic concept of accounting. According to this concept, every financial transaction involves a two-folded aspect, (a)yielding ...
-
Illustration 1 Rectify the following error and find out the effect of the errors on Net Profit. a. Purchases of Rs.300 from Raman passe...
-
Classify the following accounts into (a) personal accounts, (b) real accounts, and (c)nominal accounts: Furniture Account Salaries Acc...
No comments:
Post a Comment