A ____ contract requires paying the provider an amount that covers the provider's actual costs plus an additional amount or percentage for profit.
A) fixed-priced
B) lump-sum
C) time and material
D) cost-reimbursable

Question

Quizplus · Accepted Answer

A cost-reimbursable contract requires the provider to be reimbursed for their actual costs of performing the work, plus an additional amount for profit or fee. This type of contract is used when the scope of work is uncertain, and the buyer wants to retain some degree of control over the project.

A ____ Contract Requires Paying the Provider an Amount That