A Contract Type That Involves Payment for the Actual Cost

question 79

Multiple Choice

A contract type that involves payment for the actual cost of the product plus a fee that represents the vendor's profits is called:

• A)fixed- price contract.
• B)cost- reimbursable contract.
• C)time- and- materials contract.
• D)incentive- based contract.

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Definitions:

MARS Model

A framework describing four factors—Motivation, Ability, Role perceptions, and Situational factors—that affect individual behavior and performance.

Individual Behavior

Actions, mannerisms, and reactions of a single person, influenced by their environment, personality, emotions, and values.

Performance

is the act of carrying out or accomplishing an action, task, or function effectively.

Person-job Matching

The process of aligning an individual's skills, experiences, and attributes with the requirements of a job to ensure optimal performance and satisfaction.