Question: During the procurement process, a contractual relationship is established between a buyer and a seller. During the contract lifecycle, what is the correct sequence in

During the procurement process, a contractual relationship is established between a buyer and a seller. During the contract lifecycle, what is the correct sequence in which the following terminology is applied to a seller: Vendor, selected source, and bidder?

The seller is viewed first as a selected source, then as a bidder and then as a vendor.

The seller is viewed first as a vendor, then as a bidder and then as a selected source.

The seller is viewed first as a bidder, then as a selected source and then as a vendor.

The seller is viewed first as a bidder, then as a vendor, then as a selected source.

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