A cost-plus contract is one in which the market price is determined by references to the price of goods on a specific date.

Name: A cost-plus contract is one in which the market price is determined by references to the price of goods on a specific date.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A cost-plus contract does not include a final price; rather, the contract price is determined by the cost of labor and materials, plus an agreed-to percentage or dollar markup.

A Cost-Plus Contract Is One in Which the Market Price