Which of the Following Occurs When a Fraudulent Buyer Submits

question 12

Multiple Choice

Which of the following occurs when a fraudulent buyer submits high bids to discourage other bidders,and then retracts the bids so people they know can get the item at a lower price?

• A)Shill bidding
• B)Bid shielding
• C)Bid siphoning
• D)None of the above

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Definitions:

Variable Manufacturing Costs

Costs that vary directly with the level of production, including materials, labor, and overhead expenses that fluctuate with output volume.

Selling and Administrative Costs

Expenses related to the selling of products and the management of the company, not directly tied to the production process.

Sunk Cost

An expense that has been incurred and cannot be recouped.

Manufacturing Costs

The total expense involved in the manufacture of a product, including direct labor, direct materials, and manufacturing overhead.