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2 June, 04:15

Teatro Restoration, Inc., begins renovating an old theater for Urban Edge Productions, but after three months Teatro demands an extra $250,000. Urban Edge agrees to pay. Refer to Fact Pattern 13-4. If Teatro says it is asking for the extra $250,000 because ordinary business expenses have increased, the agreement is:

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  1. 2 June, 04:20
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    Answer: Cost plus contract

    Explanation:

    A contract in which the contractor is reimbursed on allowable expenses and paid an agreed percentage of the total allowable expenses.
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