What does OFQ mean in Accounting?
This page is about the meanings of the acronym/abbreviation/shorthand OFQ in the Business field in general and in the Accounting terminology in particular.
Out for Quote
Used the same as "WIP" (work in process or progress) or similar acronyms to communicate that a "Request for Quote (or bid)" has been sent to potential suppliers. In other words you're saying that a solicitation for a price of a product or service has been sent to potential suppliers to obtain a cost (bid).
Submitted by rinat on July 25, 2012
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"OFQ." Abbreviations.com. STANDS4 LLC, 2024. Web. 2 May 2024. <https://www.abbreviations.com/term/1421886>.
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