A Third Method for Determining the Forecasted Cost at Completion

question 31

Multiple Choice

A third method for determining the forecasted cost at completion is to re-estimate the costs for all the remaining work to be performed and then add this re-estimate to the cumulative actual cost.If the amount of cumulated actual costs is less than difference between the total budgeted cost and the re-estimate, then

• A) the FCAC is greater than the TBC.
• B) the FCAC is less than the TBC.
• C) the FCAC cannot be calculated with the values given.
• D) additional information is needed to predict the FCAC.

Understand the purpose and implications of the federal Competition Act.

Comprehend the nuances of transferring possession and property rights in sales transactions.

Recognize the role and establishment parameters of Industry Canada.

Understand the specifics of F.O.B contracts and the transfer of title and risk.

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