Simplify. -

question 12

Multiple Choice

Simplify.
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Definitions:

Time And Materials Contract

A contract agreement where payment is based on the actual labor hours worked and materials used.

Labor-Hour Contract

A contract in which payment is made based on the number of hours worked, typically used for projects where the scope is not clearly defined.

Hourly Rate

The amount of money paid for each hour of work.

Incentive Fee Contract

A contract type that provides additional compensation to the contractor for exceeding performance targets.