A Project Has Each of the Following Characteristics Except ________

question 36

Multiple Choice

A project has each of the following characteristics except ________.

• A)Clearly defined scope,deliverables,and results
• B)An estimated budget that is subject to a high degree of uncertainty
• C)Low risk with a high profit potential or benefits
• D)An estimated time frame or schedule that is subject to a high degree of uncertainty

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, preparing the books for the next period.

Adjusting Entries

Journal entries made in accounting at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Unadjusted Trial Balance

A listing of all accounts in the general ledger with their balances before any adjustments are made for the end of the accounting period.

Drawing Account

A drawing account is used to track the money or goods withdrawn by the business owner for personal use from the business.