A Project Being Analyzed by PERT Has 38 Activities, 16

question 116

Multiple Choice

A project being analyzed by PERT has 38 activities, 16 of which are on the critical path. If the estimated time along the critical path is 90 days with a project variance of 25, the probability that the project will be completed in 88 days or less is

• A) 0.0228
• B) 0.3446
• C) 0.6554
• D) 0.9772
• E) 18

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Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to update accounts for accuracies in preparation for financial statement generation.

Preparation

The act or process of making something ready for use or consideration.

Professional

An individual with specialized skills and knowledge in a particular field, typically requiring qualifications and adhering to specific ethical standards.

Expense Recognition Principle

An accounting principle that states expenses should be recognized in the same period as the revenues they helped to generate, to accurately reflect financial performance.