Your professor moonlights to make ends meet during the summer months and has a knack for painting houses.You agree to pay $500 over whatever the materials and equipment rental cost for the job and delight in sipping lemonade in the shade watching your poor professor perform under a(n):
A)cost-plus contract.
B)lump-sum contract.
C)time and material contract.
D)fixed wage contract.

Question

Quizplus · Accepted Answer

A cost-plus contract involves paying the cost of materials and labor plus an additional amount for profit, which aligns with the agreement to pay $500 over the material and equipment costs.

Your Professor Moonlights to Make Ends Meet During the Summer