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A quote is a financial document that plays a crucial role in the purchasing process, often referred to as a price quote, sales quote, or quotation. It is typically generated by suppliers of goods or services and provided to potential customers. Various professionals, such as plumbers, electricians, landscapers, and lawyers, frequently use quotes. A quote outlines a fixed price for the requested goods or services, which, if accepted by the customer, confirms the agreed price between both parties. Upon acceptance, the price is locked in, committing the supplier to deliver the services at that rate. This video tutorial from Bullseye Money aims to help business owners understand quotes in the context of their operations.