The Fairest Possible Means of Treating All Suppliers Alike in a Competitive

question 2

Multiple Choice

The fairest possible means of treating all suppliers alike in a competitive bidding situation is to:

• A)establish a policy of firm bidding.
• B)allow all bidders to change their bids prior to the bid opening.
• C)allow for negotiation after all bids are received.
• D)give prospective suppliers target cost.
• E)none of the above because competitive bidding is not fair.

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Definitions:

Derivative

In chemistry, a compound that is derived from a similar compound by a chemical reaction.

Propyl Benzoate

A chemical compound used as a fragrance and flavoring agent, consisting of the propyl ester of benzoic acid.

Catalytic Acid

An acid that speeds up a chemical reaction without being consumed in the process, often used in organic synthesis.

Major Product

The primary product that is formed in the greatest yield during a chemical reaction.