The Maximum Price the Client Expects to Pay a Contractor

question 49

Multiple Choice

The maximum price the client expects to pay a contractor regardless of cost overruns in a project best defines

• A)target price.
• B)celling price.
• C)maximum price.
• D)nonnegotiable price.

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Definitions:

Receivables

Money owed to a business by its clients or customers for goods or services that have been delivered but not yet paid for.

Artistic Works

Original items or creations, like paintings, music, literature, etc., often protected by copyright law.

Capital Assets

Long-term assets such as property, plant, and equipment that are used or held for investment purposes, the sale of which results in capital gains or losses.

Gift

Something voluntarily transferred by one person to another without compensation.