Which of the Following Statements Is Correct Regarding the Use

question 145

Multiple Choice

Which of the following statements is correct regarding the use of a program evaluation and review technique (PERT) model? • It makes use of a probability model to arrive at a realistic estimate of time necessary for completion of the audit engagement. • It requires that activities are performed in sequence such that each task is completed before the commencement of the next activity. • It remains fixed once completed to act as a baseline for measuring the performance of the audit staff following completion of the engagement. • It begins with the auditor-in-charge identifying the overall scope and then breaking down the audit engagement into identifiable activity units.

• A) 1 and 3 only
• B) 1 and 4 only
• C) 2 and 3 only
• D) 2 and 4 only

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Definitions:

Hypothesis

A proposed explanation made on the basis of limited evidence as a starting point for further investigation.

Theory

An explanation or set of principles that has been formulated to explain phenomena, often based on general principles independent of the phenomena to be explained.

Correlation

A statistical measure that describes the extent to which two variables change together.

Professional Life

Aspects of one's life that are related to career and job responsibilities.