The Document Which Contains the Specifications of What Is Needed

question 18

Multiple Choice

The document which contains the specifications of what is needed and details the information that must be submitted by a supplier is known as

• A)request for quotation.
• B)bid specification.
• C)preferred supplier contractor.
• D)statement of work.

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Definitions:

Gross Profit

The difference between revenue and the cost of goods sold before accounting for other expenses.

Intra-Entity Sales

Transactions of goods, services, or assets between divisions within the same organization.

Significant Influence

The capacity to affect the financial and operating policies of another entity without having control or full ownership, often through ownership of a sizable percentage of voting shares.

Net Income

The net profit figure for a company, achieved by subtracting all operational costs and tax liabilities from its revenue.