Regarding Bid Pricing

question 236

Multiple Choice

Regarding bid pricing:

• A) the same overhead charges and profit rates should apply to all bids-to avoid legal problems.
• B) most firms should try to bid for as many jobs as possible-to spread risk.
• C) all business buyers are legally required to accept the lowest bid-if they ask for bids.
• D) the big problem for sellers is estimating all the costs-including the variable and fixed costs-that apply to a particular job.
• E) All of these alternatives are correct.

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Definitions:

Educational Opportunities

refer to the accessibility and availability of learning experiences and resources that can improve knowledge, skills, and qualifications.

Working-Class Family

A family where the primary earners are employed in blue-collar jobs or manual labor, often associated with lower income levels.

Culture of Poverty

A theory suggesting that poverty creates a distinct set of values, behaviors, and attitudes that perpetuate poverty across generations.

Explanation

The process of making something clear or easy to understand by describing or giving information about it.