What does FAR stand for?

The correct answer is Federal Acquisition Regulation, often abbreviated as FAR. The FAR is a comprehensive set of rules issued to govern the acquisition process by which federal agencies procure goods and services. It establishes the policies and procedures that must be followed by government departments and agencies in their purchasing simulations and ensures that contracting is conducted fairly and in a transparent manner.

The other options, while they may seem relevant, do not represent the established acronym in the context of federal procurement. Federal Administrative Requirements and Federal Agency Regulations are broad terms that could refer to various regulatory frameworks, but they do not specifically relate to the procurement process as the FAR does. Additionally, Federal Acquisition Review is not a recognized term within the federal procurement landscape. Therefore, the only accurate and specific term relevant to the acquisition process is Federal Acquisition Regulation.