Under This Type of Contract,a Payment or Reimbursement Is Made

question 42

Multiple Choice

Under this type of contract,a payment or reimbursement is made to seller to cover the sellers direct and indirect costs along with an additional fee added on as a profit to the seller.

• A)Cost-Reimbursable contract
• B)Time and Materials contract
• C)Fixed Price/Lump Sum contract
• D)Cost-Penalty contract
• E)Time-Reimbursable contract

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Definitions:

High-Context

A culture or communication style in which most of the information is either in the physical context or internalized in the person, rather than explicitly stated in the message.

Multitasking

The practice of performing multiple tasks or activities simultaneously.

Power-Distance Index

A measure developed by Geert Hofstede that reflects the degree to which less powerful members of a society accept and expect power to be distributed unequally.

Geert Hofstede

An influential researcher recognized for analyzing cultural differences and their impacts on business practices and societal norms worldwide.