Project Budget Is Nothing More Than the Project Plan, Based

question 42

True/False

Project budget is nothing more than the project plan, based on the WBS, expressed in monetary terms.

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Definitions:

Double Coincidence of Wants

A situation in a barter system where two parties each hold an item the other wants, allowing them to exchange goods directly without the need for money.

M1

A category of the money supply that includes physical currency and coin, demand deposits, traveler's checks, and other checkable deposits.

Travelers Checks

Pre-printed, fixed-amount checks designed to allow the person signing them to make an unconditional payment to someone else as a result of having paid the issuer for that privilege.

Reserve Ratio

The fraction of deposits that banks are required to keep on hand as reserves, either in their vaults or with the central bank, to ensure liquidity.