When Using Competitive Bidding to Determine Prices,the Purchaser Should Ensure

question 22

Multiple Choice

When using competitive bidding to determine prices,the purchaser should ensure that the bidders are:

• A)qualified to make the item or service in accordance with the buyer's specifications and able deliver it by the desired date.
• B)sufficiently reliable.
• C)numerous enough to ensure a truly competitive price.
• D)qualified to make the item or service in accordance with the buyer's specifications,able deliver it by the desired date and sufficiently reliable.
• E)qualified to make the item or service in accordance with the buyer's specifications,able deliver it by the desired date,sufficiently reliable and numerous enough to ensure a truly competitive price.

---

Definitions:

Undervalued

Describes an asset or company being priced below its true intrinsic or market value.

Overvalued

Overvalued describes a situation where the market price of an asset is higher than its intrinsic value, often due to speculation or overestimation of its financial performance.

Par Value

A nominal value assigned to shares of stock by the issuing company, which has little relation to its market value.

Undervalued

A financial assessment that concludes an asset or a company's market price is lower than its intrinsic value.