According to the textbook, which of the following statement is false?

Group of answer choices

The process for bidding in the public sector is generally similar to the private sector, although there are a few important differences.

Prices may not be directly related to costs in the market approach.

A payment bond protects the buyer against liens that might be granted to suppliers of material and labor to the bidder, in the event the bidder does not make proper payment to its suppliers.

Online reverse auctions are useful means of price determination for customized items.