What Is the Process Called in Which Buyers Ask a Number

question 77

Multiple Choice

What is the process called in which buyers ask a number of potential suppliers to submit price quotes on a proposed purchase or contract, of which the lowest will be accepted?

• A) specification
• B) competitive bidding
• C) noncompetitive bidding
• D) auctioning

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Definitions:

Proven Conclusions

Outcomes or results that are verified and accepted as truth following rigorous testing or experimentation.

Transitional Phrase

A transitional phrase is a word or group of words used to link sentences and paragraphs together smoothly, indicating the relationship between them.

Explanation

The act of making something clear or understandable by describing the relevant facts or ideas.

Mills Company

A general term for businesses involved in the manufacturing sector, particularly those related to textiles, grains, or paper production.