The Earned Value Is

question 33

Multiple Choice

The earned value is

• A) the budgeted cost of the work scheduled.
• B) the sum of the actual costs of the project.
• C) difference between what was planned and the actual costs.
• D) the budgeted costs of the work actually performed.

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Definitions:

Allowance Method

An accounting technique used to estimate and account for bad debts by establishing an allowance for doubtful accounts.

Bad Debts Expense

An expense reported on the income statement, accounting for the estimated amount of accounts receivable that are not expected to be collected.

Allowance Method

The allowance method is an accounting technique used to estimate and prepare for the amount of accounts receivable that may not be collectible.

Journal Entries

Records of financial transactions in the accounting system, detailing debits and credits to various accounts.