Answer: The terms provided do not match the definitions provided. the answer to the question is 1) Purchase order 2) imprest fund
Step-by-step explanation:
a. A document that creates a legal obligation to buy and pay for goods or services ----- Purchase order
A purchase order is an agreed document which indicates the type of product or services, quantities of product, and prices for products or services between two parties. it is usually issued by a company who is referred to as a buyer to a vendor known as a seller to supply the goods or services. When the vendor supplies the products, will be paid by the company who is the buyer according to payment terms.
b. The method used to maintain the cash balance in the petty cash account--- imprest fund--- This is a petty cash system where a fixed sum amount of cash is maintained and kept aside by a business only for managing expenses that may arise due to some circumstances but after being taken out, must be replenished.