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 Accounting AllOther interview questions  Accounting AllOther Interview Questions
Question
How many types of Purchase Orders are there ?
 Question Submitted By :: Kailash.nawander87
I also faced this Question!!     Rank Answer Posted By  
 
  Re: How many types of Purchase Orders are there ?
Answer
# 1
Purchase order is a commercial document issued by buyer to 
a seller indicating the type,quantities and agreed prices 
of products or services that the seller will provide to 
buyer.Gradually there are there types of purchase order.
1) Blanket purchase order-this is used for low cost item(eg-
stationary)are purchased frequently.the po is issued with 
the limit on purchase amount.Within that amount the buyer 
can keep ordering the material as frequently required.when 
the po limit is exhausted a fresh po is created.

2)standard purchase order-this are most commanly used 
purchase order.In this case the buyer has the detail about 
what he or she is buying like quantity,price,delivery 
schedule etc.
3)Planned purchase order-The buyer commits to buy from the 
supplier over a long term(e.g.raw materials for 
construction project like cement,steel,glass,bricks 
etc).the tentive delivary schedules are agreed upon along 
with estimates of qauntity and price of goods/services.this 
helps bring down the inventory that buyer may have to hold 
to avoid outages.this also enables JIT supplies.
 
Is This Answer Correct ?    3 Yes 1 No
Harsha
 
  Re: How many types of Purchase Orders are there ?
Answer
# 2
material purchage order 

labour purchage order
 
Is This Answer Correct ?    0 Yes 1 No
Kjayababu
[Kadevi Engg Company (P) Ltd]
 
 
 

 
 
 
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