A contract type that involves payment for the actual cost of the product plus a fee that represents the vendor's profits is called:
A)fixed- price contract.
B)cost- reimbursable contract.
C)time- and- materials contract.
D)incentive- based contract.

Question

Quizplus · Accepted Answer

A cost-reimbursable contract involves payment for the actual costs incurred in producing the product, plus an additional fee that represents the vendor's profit.

A Contract Type That Involves Payment for the Actual Cost