Question 1 Which of the following is a type of contract financing…

Question Question 1 Which of the following is a type of contract financing… Question 1Which of the following is a type of contract financing payment?Group of answer choices Advance Adjustable Modified InvoiceQuestion 2Deductions that may be taken from invoices submitted for payment include (select all that apply):Group of answer choices Invoiced prices that exceed the contract price for the supplies or services. Liquidated damages, Invoiced items that have been delivered and accepted. Invoiced amounts that reflect hours worked during the invoiced period.Question 3Setoffs are used to collect debts owed the government by contractors, such as (select all that apply):Group of answer choices Price or cost reductions for defective certified cost or pricing data Duplicate or erroneous payments Government expense of correcting defects Discounts for early payment Incentive paymentsQuestion 4When is the government considered late in making a payment to a contractor?Group of answer choices When the Government does not meet its obligations to pay the contractor within 30 days after receipt of a proper invoice. When the Government withholds amounts to liquidate progress payments. When the Government does not make payment within 15 days of receipt of a proper invoice. When the Government has not made payment due to problems in performance.Question 5A demand letter should be issued for overpayments if:Group of answer choices the debt is or will be the subject of a bilateral modification the contractor rovides a lump sum payment, or submits a credit invoice. the contractor notifies you that the payment office overpaid on an invoice payment. the contractor agrees to perform work in an amount equal to the overpayment without invoicing for it.Question 6Final payment for a contract is issued when _________.Group of answer choices all work has been completed and accepted and a proper invoice is submitted. the contractor promises in writing to repay any overpayments in exchange for final payment. all work has been completed, but a contract claim is still being settled. all work will be completed and accepted within the next 30 days.Question 7Identify which of the following results when it becomes necessary to definitize a contract change.Group of answer choices Supplemental agreement New contract award Unilateral modification Fixed price incentive contractQuestion 8Identify three types of unilateral modifications. Group of answer choices Administrative changes Issuing of termination notices Issuing change orders Definitizing change orders Price modifications Quantity increases, when the contractor has already agreedQuestion 9What is the name of the clause that gives the Government the unilateral right to extend the term of the contract?Group of answer choices Option Modification Change Order ExtensionQuestion 10You have issued a change order with an equitable adjustment amount covering the cost of changed performance. However, the contractor refuses to agree to the adjustment and refuses to proceed. Is the allowed to refuse?Group of answer choices No, the Disputes clause requires the contractor to continue performance regardless. Yes, until the dispute is resolved. It depends on whether or not the contractor will pursue litigation. No, if the government agrees to Alternative Dispute Resolution (ADR). Business Management Project Management GCON 5100 Share QuestionEmailCopy link Comments (0)