In a ____, the Customer Agrees to Pay the Contractor

question 125

Multiple Choice

In a ____, the customer agrees to pay the contractor for all actual costs (labor, materials, and so forth) , regardless of amount, plus some agreed-upon profit.

• A) fixed price contract
• B) fixed agreement
• C) cost reimbursement contract
• D) work agreement

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Definitions:

Adjustment

The process or action of altering or modifying something to achieve a desired fit, function, or accuracy.

FMVSS-121

Federal Motor Vehicle Safety Standard No. 121, a regulation that sets the standard for air brake systems in heavy vehicles, ensuring safety through specified design, performance, and maintenance requirements.

Governor Cut-Out

A mechanism or setting in an engine or turbine that limits maximum speed by cutting fuel supply or introducing a brake.

Cut-In Pressures

The specific pressures at which a system or device begins to operate or becomes active.