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 the above.

Question

Quizplus · Accepted Answer

A long-term contract is a purchase agreement that is made on an ongoing basis for an extended period of time, often exceeding one year. The other options either imply a one-time purchase or a short-term agreement.

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