A _____ Involves Breaking a Project Down into a Series

question 3

Multiple Choice

A _____ involves breaking a project down into a series of smaller tasks.

• A) work breakdown structure (WBS)
• B) value breakdown structure (VBS)
• C) risk breakdown structure (RBS)
• D) concept breakdown structure (CBS)

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Definitions:

IFRS

International Financial Reporting Standards, a set of accounting principles that provide guidelines for financial reporting and are recognized globally.

Deferred Taxes

Deferred taxes are future tax liabilities or assets, reflecting the temporary differences between the accounting income and taxable income.

GAAP

Generally Accepted Accounting Principles are a common set of accounting principles, standards, and procedures that companies must follow when they compile their financial statements in the United States.

Capitalize

The accounting practice of recording a cost or expense on the balance sheet for purposes of delaying full recognition of the expense over time through depreciation or amortization.