By Submitting a Tender, a Party Normally

question 51

Multiple Choice

By submitting a tender, a party normally

• A)creates an enforceable contract, called an option, to create another contract in the future.
• B)prevents the other party from revoking its bid.
• C)accepts an offer to enter into a contract for services.
• D)creates an invitation to treat.
• E)accepts an offer to enter into a fair bidding process.

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Definitions:

Internal Data Sources

Sources of data that originate from within the organization, including sales records, customer databases, and financial documents.

Simple Random Sampling

A type of sampling in which everyone in the target population has an equal chance of being selected.

Internal Company Data

Information collected from within an organization, used for analysis, decision-making, and strategic planning.

Competitive Intelligence

The systematic gathering of data about strategies that direct and indirect competitors are pursuing in terms of new-product development and the marketing mix.