Question: 1. Define the differences between a Cost Plus contract and a Time-and-Materials contract. 2. Identify a situation where a Cost Plus contract would be most

1. Define the differences between a Cost Plus contract and a Time-and-Materials contract.

2. Identify a situation where a Cost Plus contract would be most appropriate and why.

3. Identify a situation where a Time-and-Materials contract would be most appropriate and why.

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