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In this video from Bullseye Money, viewers learn about quotes in business, which are financial documents that play a crucial role in the purchasing process. Often referred to as price quotes or sales quotes, these documents are typically prepared by suppliers for potential customers. A quote outlines a fixed price for goods or services that the customer wishes to purchase. If the customer agrees to the price, they accept the quote, thereby locking in the price, which obligates the supplier to deliver the agreed-upon services or products. The video aims to assist business owners in understanding the significance and mechanics of quotes.