A Project Budget Report Is Showing Our Project as Spending

question 92

Multiple Choice

A project budget report is showing our project as spending $50,000 against a budgeted amount of $65,000. Which of the following is true?

• A) We are spending less than we should for the project.
• B) We are doing a good job managing the project.
• C) We should check to see if all the bills have been paid.
• D) We have more money to put into budget reserves.
• E) We can't be sure how the project is going.

---

Definitions:

UCC Section 3-401

A provision within the Uniform Commercial Code that pertains to the authorization and validity of signatures on negotiable instruments, contributing to their enforceability.

Negotiable Instrument

A signed document promising payment to a specified person or the bearer under certain conditions, like checks, drafts, and promissory notes.

Indorser's Liability

The responsibility borne by a person who endorses a negotiable instrument, such as a check, potentially making them liable for its payment.

Presentment

The formal presentation of a financial instrument, such as a check, for payment.