Monitoring,as an Activity,should Be Kept Distinct from __________,Which Is the Process

question 51

Multiple Choice

Monitoring,as an activity,should be kept distinct from __________,which is the process of making judgments about the quality and effectiveness of project performance.

• A)collecting
• B)reporting
• C)evaluation
• D)recording

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Definitions:

Anticipated Losses

Expected financial deficits that are predicted based on current circumstances or activities.

Completed Contract

An accounting method where revenue and income are recognized only after a contract is finished or the work is completely done.

Percentage Of Completion

An accounting method used to recognize revenue and expenses of long-term contracts proportionally as the contract progresses toward completion.

Gross Profit

The financial gain obtained after subtracting the cost of goods sold from total sales revenue.