The Two Basic Types of Purchasing Contracts Are

question 3

Multiple Choice

The two basic types of purchasing contracts are:

• A)fixed-price and cost-based.
• B)bid-rigged and cost-plus.
• C)cost-zero and fixed-variable.
• D)fixed-quantity and variable-cost.

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Definitions:

Interoperability Standards

Agreed-upon protocols and guidelines that enable different information technology systems and software applications to communicate and exchange data efficiently.

National Alliance

A coalition or union formed between parties or groups at a national level, commonly for political, social, or economic purposes.

Health Information Technology

The use of electronic systems and tools to store, share, and analyze health information and improve healthcare delivery.

Accounts Receivable

Accounts Receivable refers to the money owed to a business by its customers for goods or services delivered but not yet paid for.