Test $-$ CON $2370$ Simplified Acquisition Procedures Exam

TO$3.$EO$2$ Recall the policies and procedures for contract closeout.

Question $10$ of $24.$

You are the contracting officer for a firm$-$fixed$-$price commercial services contract that was partially terminated for convenience. You are in the process of negotiating the termination settlement. Which one of the following statements about contract closeout is correct?The contract is considered closed once you receive evidence that the contract is physically complete.

The contract must be closed within six months after you receive evidence of receipt of property and final payment.

The contract is considered closed once you receive evidence of receipt of property and final payment.

The contract file cannot be closed at this time.

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