📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    00:00:00 AM Left

    Question

    What is a reverse

    auction?
    A An auction where buyers bid for the prices of goods and services Correct Answer Incorrect Answer
    B An auction where sellers bid for the prices of goods and services Correct Answer Incorrect Answer
    C An auction where sellers put up items and buyers place bids Correct Answer Incorrect Answer
    D An auction where the item goes to the lowest bidder Correct Answer Incorrect Answer

    Solution

    In a reverse auction, sellers compete by submitting their bids for the prices at which they are willing to sell their goods and services.

    Practice Next
    More Accounts Questions

    Relevant for Exams:

    ask-question