Personal Finance (MindTap Course List)
13th Edition
ISBN: 9781337099752
Author: E. Thomas Garman, Raymond Forgue
Publisher: Cengage Learning
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What Is Cost-Based Contracts?
Identify the best and worst types of contract on the basis of payment
Which of the following should be avoided in a contract if cost certainty is important?
Cost-of-living clauses
Gainsharing clauses
Profit sharing plans
Piece-rate pay plans
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- Why does “Identify the performance obligation(s) in the contract,” is important? Explain with example.arrow_forwardwhat is the liberty principle as it relates to contracts?arrow_forwardWhen a contract includes an option to buy additional goods or services, when does that option give rise to a performance obligation?arrow_forward
- How contract is discharged by subsequent impossibility?arrow_forwardWhat characteristics make a good or service a performance obligation?arrow_forwardWhen a customer is able to benefit from a good or service on its own or together with other readily available resources, the good or service is distinct. is a contract. is interdependent. uses variable consideration.arrow_forward
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