Which of the following describes a Purchase Requisition?

A Purchase Requisition is best described as a record of a purchase that needs to be made. This document is typically initiated within an organization to request the necessary approval for acquiring goods or services. It outlines the specifics of what is needed, including the quantity, type of items, and perhaps a suggested vendor, but it does not constitute a purchase order or invoice. The purpose of a Purchase Requisition is to ensure that spending is authorized and that procurement follows the appropriate internal controls.

This understanding highlights why the other options do not accurately capture the essence of a Purchase Requisition. A request to approve a new vendor pertains to vendor management rather than the acquisition of goods; a formal invoice refers to billing terms and payment, which comes after purchases are made; and a notification of received items relates to inventory management post-purchase rather than the initial procurement request stage. Each of these functions serves a different purpose within the broader purchasing process, demonstrating the unique role of a Purchase Requisition.