Final answer:
The meaning of a 3-way match in business refers to verifying the accuracy of a transaction by comparing three key documents: purchase order, receiving report, and vendor invoice.
Step-by-step explanation:
The meaning of a 3-way match in the context of business refers to a process used in purchasing and accounts payable. It involves comparing three key documents - the purchase order, the receiving report, and the vendor invoice.
During the 3-way match, these documents are checked to ensure that the ordered quantities, received quantities, and billed quantities match. If all three documents match, it indicates that the transaction is accurate and can be paid.
Now, it is not true to say that the meaning of a 3-way match is that the purchase order, receiving report, and vendor invoice are unrelated or have no connection. Rather, the purpose of the 3-way match is to verify their connection and ensure the accuracy of the transaction.