Question
The concept of competitive bidding. The advantage of a company obtaining a competitive bid is that the suppliers know they are in competition and they
The concept of competitive bidding. The advantage of a company obtaining a competitive bid is that the suppliers know they are in competition and they must submit a bid that provides some profit but not submit a bid that is too high to lose the contract. When I worked in public accounting, prior to the SOX Act, auditing firms could provide multiple services to clients. As a result, we would bid the audit work intentionally low. However, once we had our foot in the door, the firm would offer other services such as the preparation of the corporate tax return and other consulting services. Has anyone been involved with reviewing bids?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started