A Company Put a Job Out to Tender

question 148

Multiple Choice

A company put a job out to tender.The tendering process requires the company to follow certain rules typically associated with this process.Which of the following is most likely not a requirement in a tendering process?

• A)The company must disclose all relevant information affecting the project.
• B)The company must accept only bids that comply with the terms of the tender.
• C)The company must accept the lowest bid price.
• D)The company must not accept bids after the specified closing date.
• E)The company must treat all parties equally and in good faith.

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Definitions:

Excise Taxes

Taxes paid when purchases are made on a specific good, such as gasoline or tobacco, often included in the price of the product.

Tax Burden

The measure of the total amount of taxes that individuals, businesses, or other entities must pay.

Medicaid

Medicaid is a government-funded program in the United States that provides health care services to low-income individuals and families.

Corporate Profits

The total earnings of a company after subtracting production and operating costs, including taxes and interest.