If the Buyer Does Not Have a Clear and Unambiguous

question 8

Multiple Choice

If the buyer does not have a clear and unambiguous description or specification and wants to find out which suppliers can deliver the best value when and where needed, he or she will typically issue a:

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

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Definitions:

Winding Up

The process of liquidating a company's assets and disbursing the proceeds to claimants, leading to the dissolution of the company.

Dividends

Payments made by a corporation to its shareholders, usually as a distribution of profits.

Annual Dividend Sharing

The distribution of a portion of a company's earnings, decided by the board of directors, to a class of its shareholders on a yearly basis.

Life Cycle

The series of stages through which a living thing passes from the beginning of its life until its death.