Public Purchasers Are Required to Award Contracts to the Lowest

question 4

Multiple Choice

Public purchasers are required to award contracts to the lowest "responsible" and "responsive" bidder.This means the bidder is:

• A)fully capable and willing to perform the work and submits a bid that conforms to the invitation for bid.
• B)a business in the local community and submits the bid by the deadline.
• C)a respected business in the local community and responds within 48 hours of all requests.
• D)fully capable and willing to perform the work and responds to the bid in a timely manner.
• E)willing to perform the work using some minority-owned sub-contractors and submits the bid by the deadline.

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Definitions:

Single Ratio

Single ratio refers to the calculation of a solitary financial metric that helps in assessing a specific aspect of a company's performance or financial health.

Liquidity Ratios

Financial metrics used to evaluate a company's ability to meet its short-term debt obligations by measuring how easily it can convert assets to cash.

Dividend Payments

Distribution of a portion of a company's earnings, decided by the board of directors, to a class of its shareholders.

Comparative Data

Information that is compared across different time periods, companies, or other variables to analyze performance or condition.