Final answer:
The correct answer is option A. The document issued by a prospective buyer seeking proposals from salespeople is called a Request for Quotation (RFQ). It is used to gather detailed pricing and terms information from potential suppliers before potentially entering into a sales contract.
Step-by-step explanation:
A document issued by a prospective buyer asking for a proposal from salespeople is known as a Request for Quotation (RFQ). An RFQ is a document typically used in the procurement process when a buyer is considering acquiring goods or services and seeks detailed information regarding the price and terms from potential suppliers. It differs from a Purchase Order (PO), which is a formal request to a vendor to supply goods or services under specified conditions. A Sales Contract is an agreement between a buyer and seller which outlines the terms of a transaction, and a Sales Invoice is the bill sent by a seller to the buyer post the delivery of goods or services detailing the transaction and payment owed.
When a company or individual issues an RFQ, they are inviting suppliers to submit a bid to supply the specified products or services. The RFQ will contain important details such as product specifications, quantities, delivery schedules, payment terms, and sometimes the criteria that will be used to evaluate and select the supplier. Responding to an RFQ is typically the initial step in a series of negotiations, which may eventually lead to the creation of a sales contract once a supplier is chosen and terms are agreed upon.
The correct option for the document issued by a prospective buyer asking for proposals from salespeople is A) Request for Quotation (RFQ).