The Custodian of a Company Asset Should

question 19

Multiple Choice

The custodian of a company asset should

• A)have access to the accounting records for that asset.
• B)be someone outside the company.
• C)not have access to the accounting records for that asset.
• D)be an accountant.

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Definitions:

Probable Time

An estimate of the amount of time that might reasonably be expected to be needed to complete a specific task or project.

Expected Activity Time

In project management, it's the best estimate of the time required to complete a task, considering various factors like resources and complications.

PERT Analysis

Program Evaluation and Review Technique (PERT) analysis is a project management tool used to plan, schedule, and control complex activities, focusing on task durations to identify minimum project duration.

Weighted Average

A calculation that takes into account the varying degrees of importance of the numbers in a dataset, assigning weights to each number.