Which term is an estimate for how much you will pay for merchandise or services?

Which term is an estimate for how much you will pay for merchandise or services?

• A. Estimate
• B. Invoice
• C. Quote
• D. Receipt

Answer: (C)

When you want to know how much you will pay before buying, you’re looking at a price quote. A quote is a formal price estimate provided by a seller for specific merchandise or services, usually in writing and valid for a set period. It states exactly what the price would be, along with any terms or scope so you can compare offers and decide. An estimate is a rough projection and may change as details are clarified, so it isn’t a firm price. An invoice is the bill issued after goods or services are delivered, requesting payment, and a receipt is proof that payment has been made.

When you want to know how much you will pay before buying, you’re looking at a price quote. A quote is a formal price estimate provided by a seller for specific merchandise or services, usually in writing and valid for a set period. It states exactly what the price would be, along with any terms or scope so you can compare offers and decide. An estimate is a rough projection and may change as details are clarified, so it isn’t a firm price. An invoice is the bill issued after goods or services are delivered, requesting payment, and a receipt is proof that payment has been made.