Match the Following Terms with the Corresponding Description

question 47

Short Answer

Match the following terms with the corresponding description.
I.Variable
II.What-if analysis
III.Substitution value
IV.Stop value
V.Step value
A.Value increments when filling a series
B.An input value that can change to other values to affect the results of a situation
C.The ending value for the series
D.A value that replaces the original input value of the variable in a data table
E.Enables you to experiment with different variables or assumptions so that you can observe and compare how these changes affect a related outcome

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Definitions:

Holdback Money

Funds retained by a party in a contract to ensure obligations are met before making full payment.

Privity of Contract

The principle that a contract cannot confer rights or impose obligations arising under it on any person or agent except the parties to it.

Doctrine of Privity

A legal principle stating that contracts are binding only upon the parties signing them, and no third-party can enforce or be obligated by the contract.

Progress Payments

Payments made through the course of a project or contract based on the completion of specified stages of work.