Cost Variance (CV) Is __________

question 2

Multiple Choice

Cost Variance (CV) is __________

• A) how much we actually spent for work completed
• B) how much we budgeted to spend at the beginning of the project
• C) how much of the budget we have left to spend on the project
• D) how much of the budget we really should have spent on the work completed so far
• E) the difference between the estimated cost and how much we have actually spent

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Definitions:

Underemployed

Refers to individuals who are employed at a job that does not utilize their skills, education, or availability to the fullest, often resulting in working fewer hours than desired.

Skilled Worker

An individual who has specialized training, knowledge, and abilities in a particular field or occupation, often requiring formal qualifications.

Low-Skill Job

Employment that requires minimal specialized skills or education, often characterized by lower wages and typically involving manual or routine tasks.

Developing Country

A nation with a lower level of industrialization, lower living standards, and lower Human Development Index (HDI) compared to developed countries.