Which of the Following Is Not a Prerequisite to Bidding

question 12

Multiple Choice

Which of the following is not a prerequisite to bidding?

• A) Specifications must be clear
• B) Price is not the only important variable
• C) Market must consist of an adequate number of sellers
• D) Sellers must be qualified and want the contract
• E) Time available must be sufficient

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Definitions:

Long-Range Budgets

Financial plans that project revenues, expenses, and other financial details for a period of several years into the future.

Rolling Budgets

Budgeting method that continuously updates by adding a new budget period as the current period is completed, ensuring ongoing financial planning.

Budgeted Financial Statements

Financial statements that predict revenues, expenses, and net income based on the budget for a future period.

Cash Budget

A financial plan that estimates cash inflows and outflows over a specific period, typically used to assess liquidity and manage cash effectively.