A _____ Is When a Consulting Firm Bills the Client

question 68

Multiple Choice

A _____ is when a consulting firm bills the client for developing an application based on the amount of time and cost of materials to complete the work.

• A)Cost-Reimbursable contract
• B)Time and Materials contract
• C)Fixed Price/Lump Sum contract
• D)Cost plus fixed fee contract
• E)Cost-plus-incentive-fee contract

---

Definitions:

Vivid Stimuli

Stimuli that are perceived as highly distinct, clear, or emotionally engaging, often capturing attention and being easily remembered.

Concrete

Pertaining to or characterized by material objects, not abstract; tangible, real, or specific.

Bookkeeping

The systematic recording, organizing, and maintaining of financial transactions for an individual or an organization.

Schema Change

The modification or updating of cognitive frameworks or mental structures that are used to organize information, usually in response to new information or experiences.