A Contractor Bidding on a Fixed-Price Project Must Develop

question 13

Multiple Choice

A contractor bidding on a fixed-price project must develop

• A) accurate and complete cost estimates and include sufficient contingency costs.
• B) a well-defined project with low risk.
• C) techniques to control costs and reduce expenses to make a larger profit.
• D) techniques to determine the cost-at-completion with actual expenditures.

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Definitions:

Background Factors

The underlying conditions or influences that shape an individual's behavior, attitudes, or achievements, often considered in studies of social and psychological development.

Uniform Crime Report

An annual report compiled by the FBI to track the incidence of crime in the United States and to provide statistics.

Crime In The United States

Refers to unlawful acts punishable by the state that occur within the United States, with its nature, frequency, and legal responses varied across regions.

Norm Violations

Actions or behaviors that go against the accepted standards or rules of a society or group, often eliciting negative responses from others.