A Request for Proposal (RFP)

question 18

Multiple Choice

A request for proposal (RFP) :

• A) is used when a customer has a firm idea of the product needed.
• B) is often referred to as a "payback period request."
• C) is used when companies are looking at researching and designing new products.
• D) is unlikely to discuss the cost and delivery schedules for a project.
• E) is used when a salesperson has a firm idea of his or her company's product.

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Definitions:

Duty to Reimburse

The obligation to pay back or compensate another party for expenses, losses, or damages incurred on one's behalf.

Authorized Expenditure

An approved expense deemed necessary and reasonable for the operation or management of a business or organization.

Express Authority

The power granted to an agent or representative by clear and explicit instructions from the principal.

Conflict of Interest

A situation in which a person's personal interests could potentially influence their professional duties or decisions.