When a Request for Proposal (RFP)is Solicited Based on ________,Total

question 16

Multiple Choice

When a request for proposal (RFP) is solicited based on ________,total costs are usually lower and less time is required for vendor preparation and company evaluation.

• A)specific equipment needs
• B)general software needs
• C)exact hardware and software specifications
• D)system efficiency

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Definitions:

Infrastructure Assets

Long-term physical assets that are foundational for providing public services, such as roads, bridges, water systems, and utilities.

Capitalizes

The process of recording an expenditure as an asset, rather than an expense, thus spreading the cost over the useful life of the asset.

Statement of Activities

A financial report primarily used by non-profit organizations, detailing revenues earned and expenses incurred over a specific period.

Operating Grants

Funds provided by governments or other entities to support the operating expenses of a non-profit or other organizations, typically not requiring repayment.