Accredited ACH Professional (AAP) Practice Exam

What type of document might be included within a Transaction Set?

1. Sales Forecast

2. Financial Statement

3. Purchase Order

4. Compliance Statement

The correct answer is: Purchase Order

A Transaction Set is a standardized format used in electronic data interchange (EDI) that represents a specific business transaction. In this context, a Purchase Order is a well-defined document that outlines a buyer's intent to purchase goods or services from a seller. It typically includes details like item numbers, quantities, prices, and terms of sale, making it a key component of trade and commerce. When it comes to Transaction Sets, they are commonly utilized in processes such as order placement, invoicing, and shipment notifications. A Purchase Order aligns perfectly with this because it serves as the initiating document for a transaction, allowing the seller to fulfill the order based on the buyer's request. While documents like a Sales Forecast or Financial Statement may provide valuable business insights, they do not serve the same transactional purpose as a Purchase Order within a Transaction Set. Similarly, a Compliance Statement often relates to regulations and standards compliance rather than facilitating a specific transaction. Therefore, within the framework of Transaction Sets, the Purchase Order stands out as the most relevant document.