Match the terms in the left column with their appropriate definition in the right column. PROBLEMS Terms 1. Economic order quantity (EOQ) 2. Materials requirements planning (MRP) Definitions a. A document that creates a legal obligation to buy and pay for goods or services b. The method used to maintain the cash balance in the petty cash account

Please the terms do not match the definitions.

Please see below for the appropriate terms which match the given definitions.

Explanation:

A document that creates a legal obligation to buy and pay for goods or services Purchase order

A purchase order is defined as a contract or agreement between a buyer( buisness or company) and a seller who is usually a vendor to supply goods or services based on aggrement on the specific product or services, specific quantity for a specific price to be paid by the buyer when delivered .

b)The method used to maintain the cash balance in the petty cash account Imprest Fund

An imprest Fund is also known as Petty Cash fund which carries a fixed amount used by Buisnesyses to cover small routine expenses and are replaced or replenished to always maintain the fixed amount.

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