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A questioned cost in contracting refers to an expenditure that an auditor or oversight body has identified as potentially unallowable, unsupported, or inappropriate under the terms of a contract or applicable regulations. This may arise from issues like inadequate documentation, non-compliance with contract provisions, or a lack of justification for the expense. Questioned costs can lead to disallowances or adjustments in payments, impacting the contractor’s financial obligations. It is essential for contractors to address and resolve questioned costs to ensure compliance and maintain their funding.
What else can I help you with?
Is research and development a product cost?
No. They are only considered a product cost when contracting with a governmental agency.
How system contracting reduces cost?
LIC hosing finace limited is government job yes/no
Is questioned transitive or intransitive?
The verb 'questioned' can be transitive or intransitive. Examples: Transitive: I was questioned endlessly. Intransitive: I questioned the veracity of the his excuse.
What is the abbreviation for contracting?
what is the abbreviation of contracting
When the Contracting Officer has relied on certified cost or pricing data in the price determination which of the following statements is true?
price negotiation
In Government contracting one criterion for cost allowability is that the contractor's costs must comply with Generally Accepted Accounting Principles (GAAP) and Government Cost Accounting Standards (?
true
What is synonym of questioned?
"Interrogated" is a synonym of questioned.
How can you use questioned in a sentence?
"The Police questioned the suspect."
What is a contracting economy?
A contracting economy is one that is on the decline. The opposite of a contracting economy is a growing economy.
How much does a 2 million dollar LLC insurance policy cost for a contracting company?
approximately about 2,200 dollars a year...
What is the single most important decision the Contracting Officer must make to mitigate cost risk?
profit fee percentage objective
What does the word questioned mean or What are synonyms of the word questioned?
questioned means to be asked. synonyms might include: asked, interrigated, drilled
