The RFP Must State the Project Objective or Purpose, Including

question 80

True/False

The RFP must state the project objective or purpose, including any rational or background information that may be helpful to contractors so that they can prepare thorough and responsive proposals.

---

Definitions:

Reconciliation

The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement.

Direct Method

The Direct Method in accounting is a way to present the cash flow statement, showing actual cash receipts and payments, directly reporting major classes of gross cash receipts and payments.

Accrual Accounts

Accounts that record revenues and expenses when they are earned or incurred, not necessarily when cash is received or paid.

Accrual Accounting

An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when cash transactions occur.