The fairest possible means of treating all suppliers alike in a competitive bidding situation is to:
A) establish a policy of firm bidding.
B) allow all bidders to change their bids prior to the bid opening.
C) allow for negotiation after all bids are received.
D) give prospective suppliers target cost.
E) none of the above because competitive bidding is not fair.
Correct Answer:
Verified
Q1: The lowest price that ensures a continuous
Q2: The lowest bid may not receive the
Q3: Labor and material costs are typically:
A)semivariable costs.
B)fixed
Q4: The cost approach to pricing:
A)is the only
Q6: Fixed costs generally remain the same regardless
Q7: A cash discount allows:
A)the seller to secure
Q8: This bond guarantees work will be done
Q9: If identical bids are received,the buyer might
Q10: Items for which prices are comparatively low
Q11: When using competitive bidding to determine prices,the
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