Which of the Following Is Determined as a Direct Result

question 34

Multiple Choice

Which of the following is determined as a direct result of computing the earliest starting and finishing times for the activities of a project network?

• A)expected project duration
• B)activity slack time
• C)which activities are on the critical path
• D)variance in project duration
• E)maximum project duration

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Definitions:

Explicit Costs

Direct, out-of-pocket expenses incurred by a firm or individual for business operations or activities.

Accounting Profits

The financial gain calculated by subtracting total explicit costs from total revenues, using generally accepted accounting principles.

Economic Profits

Profits calculated by subtracting both explicit and implicit costs from total revenues; also known as supernormal profits.

Implicit Costs

Costs that represent the opportunity costs of using resources owned by the firm for its own production rather than selling those resources.