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Exam IIA-CIA-Part3 topic 2 question 305 discussion

Actual exam question from IIA's IIA-CIA-Part3
Question #: 305
Topic #: 2
[All IIA-CIA-Part3 Questions]

An organization finalized a contract in which a vendor is expected to design, procure, and construct a power substation for $3,000,000. In this scenario, the organization agreed to which of the following types of contracts?

  • A. A cost-reimbursable contract.
  • B. A lump-sum contract.
  • C. A time and material contract.
  • D. A bilateral contract.
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Suggested Answer: B 🗳️
by [deleted] at Sept. 11, 2025, 6:23 a.m.

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[Removed]
2 months, 2 weeks ago
Selected Answer: B
Let's discuss. I landed on B, but I want to be sure of the reasoning.
upvoted 1 times
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