Which of the following is used for low cost, noncritical purchases?

Question

Quizplus · Accepted Answer

Verbal quotes are typically used for low cost, noncritical purchases as they are quick and easy to obtain without the need for written documentation or formal processes. RFI (Request for Information) and RFQ (Request for Quotation) are more formal processes used for higher value or complex purchases. IFB (Invitation for Bid) is typically used for government procurement and requires bidders to submit a formal, sealed bid for a particular project or contract.

Which of the Following Is Used for Low Cost, Noncritical