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).

---

Definitions:

Operating Activity

Activities that relate directly to the operations of the company, including production, sales, and other core business functions.

Investing Activity

Financial operations related to acquiring or disposing of non-current assets, crucial for budgeting and strategic planning of an organization's capital.

Financing Activity

Transactions related to raising capital and repaying investors, including issuing stock, paying dividends, and borrowing funds.

Net Income

A company's overall earnings following the deduction of all costs and taxes from its gross income.