Bidder's List Refers to

question 195

Multiple Choice

bidder's list refers to

• A) a list of firms believed to be qualified to purchase a given item.
• B) a list of firms believed to be qualified to supply a given item.
• C) those firms that have expressed interest in supplying a specific item but have not yet been approved.
• D) a list of firms that have not yet expressed an interest in supplying a specific item to the firm.
• E) a list of approved suppliers that have not yet been entered into the firm's purchasing databank.

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Definitions:

Unit Selling Price

The cost for one unit of a product when it is sold.

Unit Variable Costs

Costs that vary directly with the volume of production or sales, such as materials and labor, on a per-unit basis.

Contribution Margin Ratio

A financial metric that measures the portion of revenue remaining after variable production costs that can contribute to covering fixed costs and generating profit.

Unit Contribution Margin

The difference between the selling price per unit and the variable cost per unit, indicating how much each unit sold contributes to fixed costs and profit.