Answer Happy

Match the terms with their definitions: 1. economic order quantity (EOQ) a 2. materials requirements planning (MRP) 3. just-in-time (JIT) inventory system c. 4. purchase requisition Document that creates a legal obligation to buy and pay for goods or services b. Method used to maintain the cash balance in the petty cash account The time to reorder inventory triggered when the quantity on hand falls to a predetermined level d. Document used to authorize a reduction in accounts payable because merchandise has been returned to a supplier e Inventory control system that triggers production based upon actual sales f Inventory control system that triggers production based on forecasted sales Document used only internally to initiate the purchase of materials, supplies, or services h Process for approving supplier invoices based on a two-way match of the receiving report and purchase order 5. imprest fund 6. purchase order 7.kickbacks 8. procurement card