The First Step in Developing a PERT Network Is To

question 131

Multiple Choice

The first step in developing a PERT network is to:

• A) arrange the tasks on the diagram in the sequence in which they must be completed.
• B) determine the critical path.
• C) list all the activities/events that must be completed to reach the specific objective.
• D) determine the time it will take to complete each activity/event.

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Definitions:

Critical Event

A significant occurrence that has a profound impact on an entity's operations or financial performance, necessitating special consideration in accounting and financial reporting.

Measurability Conditions

Criteria that determine when revenue can be recognized in the accounting process, ensuring it can be reliably measured.

Percentage-Of-Completion Method

An accounting method used to recognize revenue and expenses of long-term projects proportionally with the degree of completion.

Revenue Recognition

the accounting principle dictating the conditions under which revenue is considered earned and can be recorded in the financial statements.