The _____ contract is generally used in plant and equipment maintenance agreements, where the supplier cannot determine accurate costs prior to the repair service.
A)fixed-price with redetermination
B)firm fixed price
C)cost-sharing
D)time and materials
E)cost plus fixed-fee

Question

Quizplus · Accepted Answer

Time and materials contract is the best choice for plant and equipment maintenance agreements where accurate costs cannot be determined prior to the repair service. This type of contract involves paying for the actual time worked and the materials used, rather than a predetermined price.

The _____ Contract Is Generally Used in Plant and Equipment