A/An ____ is a purchase contract that is made on a continuing basis for a specified or indefinite period of time,typically exceeding one year.
A) one-time buy
B) short-term contract
C) spot contract
D) long-term contract
E) None of these choices.

Question

Quizplus · Accepted Answer

A long-term contract is a purchase contract that is made on a continuing basis for a specified or indefinite period of time, typically exceeding one year. The other options do not fit this description - a one-time buy is a single purchase, a short-term contract is for a specific, shorter period of time, and a spot contract is a purchase made for immediate delivery of a product. Therefore, option D is the best choice.

A/An ____ Is a Purchase Contract That Is Made on a Continuing