Question: There are five basic types of contracts described in FARs. The first are fixed-price contracts, which are appropriate when the scope of the work is

There are five basic types of contracts described in FARs. The first are fixed-price contracts, which are appropriate when the scope of the work is unlikely to change. The price can be firm or adjustable to allow for variances, and may include a price ceiling or target price FAR, 2022). The second type of contract is cost-reimbursement, which is appropriate when the scope

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