If the Buyer Has a Clear and Unambiguous Description or Specification,and

question 22

Multiple Choice

If the buyer has a clear and unambiguous description or specification,and wants to find out which supplier can deliver the best value when and where needed,he or she will typically issue a:

• A)request for proposal (RFP).
• B)request for information (RFI).
• C)request for bid (RFB).
• D)request for price (RFP).
• E)request for quotation (RFQ).

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Definitions:

Additional Capital

Extra funds injected into a business or investment, beyond the initial capital.

Small Business Administration Loan

A type of loan offered by the Small Business Administration (SBA) to help small businesses get started or expand with less stringent qualifying criteria than conventional loans.

Bank Loan

A sum of money lent by a bank to an individual or organization under the agreement that it will be repaid with interest.

Sole Proprietorship

A business structure in which a single individual both owns and operates the business, bearing full responsibility for its debts and obligations.