• Investing Essentials

Requisition

Updated on March 9, 2023

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Requisition is the formal way of requesting for a particular item which is required for performing a particular business function. Mostly there is documentary evidence involved in requisition which may be a mandatory requirement for audit trails.

Example of requisition

Suppose a Video editing team A requires a software that will help them in editing and making better videos, they will need to place a formal requisition with the concerned department to buy the software.