What Is a Graphical Network Model That Depicts a Project's

question 29

Multiple Choice

What is a graphical network model that depicts a project's tasks and the relationships between those tasks?

• A) Gantt chart
• B) PERT chart
• C) Dependency
• D) All of the choices are correct

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Definitions:

Implicit Costs

The opportunity costs of using resources owned by the firm for its own use, without any direct payment made.

Opportunity Cost

The worth of the best alternative given up to make a choice.

Accounting Profit

The financial gain calculated by subtracting total expenses from total revenues, according to standard accounting principles.

Economic Profit

The profit from undertaking an activity after subtracting both the explicit and implicit costs associated with that activity.