Contractor submits termination inventory schedule

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Reference no: EM132261181

1. When the contractor submits a termination inventory schedule, the most important factor which must be represented correctly is:

A. Quantity of items

B. Allocabity

C. The acquisition cost of the items

D. An accurate description of the items

2. A terminated prime contractor may receive partial payments up to:

A. 100% of any authorized subcontract settlement

B. 90% of the total cost of termination inventory

C. 100% of partial payments made to subcontractors

D. All of the above

3. When a contract is terminated, the Government will reimburse the prime contractor for his/her settlements with fixed-price-subcontractors on the basis of the:

A. Termination clause included in the subcontract

B. Amount paid the subcontractor

C. Termination clause included in the prime contract

D. None of the above

4. Upon request of the contractor that the Government remove items not disposed of during the plant clearance period, the Government must remove the items or enter into a written storage agreement within:

A. 30 days

B. 60 days

C. 15 days

D. None of the above

Reference no: EM132261181

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