Estimating Practice Exam

Do all price quotations from material suppliers include terms and conditions?

1. Yes, without exception

2. No, they are optional

3. Only for bulk orders

4. Sometimes, depending on the supplier

The correct answer is: Yes, without exception

The claim that all price quotations from material suppliers include terms and conditions is generally supported because terms and conditions are crucial for outlining the specifics of the transaction. These terms can cover various aspects, such as payment terms, delivery schedules, warranties, and liability clauses. Including these details in price quotations helps to establish clear expectations between suppliers and buyers. Typically, suppliers aim to provide comprehensive information to ensure that both parties understand their obligations, which minimizes potential conflicts or misunderstandings later in the process. Therefore, it is reasonable to conclude that all price quotations should come with some form of terms and conditions attached, as they are fundamental to a smooth transaction. In contrast, the alternative options suggest scenarios where terms and conditions might not be included, which is less common practice in a professional business environment that values transparency and clarity in transactions.