Which of the following arrangement of documents is the correct sequence as used in the retail trade? i. Quotation ii. Enquiry iii.Order iv Invoice
Answer Details
The correct sequence of documents as used in the retail trade is as follows:
1. Enquiry: The first step in the retail trade is an enquiry from the customer about the product or service they are interested in purchasing. The enquiry may include questions about the price, availability, and other relevant details.
2. Quotation: Based on the enquiry, the seller will provide a quotation which includes the details of the product or service, the price, and any other terms and conditions. The quotation serves as an offer from the seller to the customer.
3. Order: If the customer is satisfied with the quotation, they will place an order for the product or service. The order is a confirmation from the customer that they agree to the terms and conditions mentioned in the quotation.
4. Invoice: After the product or service has been delivered, the seller will issue an invoice to the customer. The invoice includes the details of the product or service, the price, and any applicable taxes. The invoice serves as a request for payment from the customer.
Therefore, the correct sequence of documents as used in the retail trade is "Enquiry, Quotation, Order, Invoice".