The WA Government Is Building an Industrial Park and Calls

question 37

Multiple Choice

The WA government is building an industrial park and calls for tenders from several construction companies.Which of the following is true?

• A)The call for tenders is an offer, and acceptance occurs when the government receives the lowest bid.
• B)The call for tenders is an invitation to treat and the tenders are offers.
• C)The first company to submit its tender will be taken to have accepted the offer by the government.
• D)The call for tenders is a promise to accept the first tender.

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Definitions:

Market Value

The now rate for transactions involving the purchase or sale of assets or services.

Debt

Money borrowed by one party from another, under the condition it will be paid back often with interest, used by individuals, businesses, and governments to finance activities.

Common Stock

Equity ownership in a corporation, with voting rights and potential dividends not guaranteed.

Preferred Stock

A class of ownership in a corporation with a fixed dividend that is paid out before dividends to common shareholders and typically lacks voting rights.