The document executed and signed by the seller and the buyer describing the items furnished, the price of those items, and the terms of payment is the:

• A. Sales contract
• B. Purchase order
• C. Invoice
• D. Bill of lading

Answer: (A)

The document is a sales contract. When both the seller and the buyer execute and sign a document that lists the items furnished, the price of those items, and the terms of payment, they are establishing a binding agreement on what is to be delivered, for how much, and how payment will be made. This written contract creates the obligations for both sides and can be used to enforce the deal.

The other documents serve different roles: a purchase order is typically issued by the buyer to request items and may become binding only upon seller acceptance; an invoice is a request for payment sent after goods are delivered; a bill of lading is a shipping document that handles the transport and receipt of goods, not the terms of the sale.