Cost-plus (cost-sum) contracts are generally executed in which of the following circumstances?

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Economics · Contract Costing

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Where it is not possible to estimate the exact total cost and profit in advance due to non-standard work

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Answer 1

Where the contract must be completed within 24 hours

Answer 2

Where the contractor refuses to accept any profit percentage

Answer 3

Where total costs can be estimated with absolute certainty before commencement

Answer 4

Where it is not possible to estimate the exact total cost and profit in advance due to non-standard work

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