Keegan is a purchasing manager for a large auto manufacturer.The contract with the company's steel provider is just about to expire,so Keegan is negotiating the terms and condition of a new contract with his supplier.Keegan is satisfied with the negotiations,so he takes the next step of drawing up a legal obligation to buy the negotiated amount of steel at the price and delivery date agreed upon by himself and his supplier.This legal obligation is otherwise known as

Question

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A legal obligation to buy a negotiated amount of steel at an agreed-upon price and delivery date is known as a purchase order. A bill of sale is a document used to transfer ownership of goods from a seller to a buyer after a transaction is complete. The cost of goods sold is an accounting term used to describe the cost of manufacturing or purchasing goods that have been sold. A contract amendment is a change to an existing contract, and an agreement is a general term used to describe any mutually accepted arrangement between two or more parties.

Keegan Is a Purchasing Manager for a Large Auto Manufacturer