Which of the Following Statements Is True with Regard to a Project

question 10

Multiple Choice

Which of the following statements is true with regard to a project life cycle?

• A)Resource requirements are high at the beginning of the cycle.
• B)Resource requirements drop sharply as the project moves into advanced stages of development.
• C)Resource requirements are needed only during the defining stages of the project (i.e.,before the project actually begins).
• D)Note that as a project begins,the resources (man hours)needed for it are minimal but then increase sharply as the project moves to its conclusion

---

Definitions:

Financial Statements

Papers that give a summary of a corporation's financial status, featuring the balance sheet, income statement, and statement of cash flows.

Fiscal Year

A 12-month period used for accounting purposes that may not coincide with the calendar year.

Lifetime Operations

The entire period during which an entity or project is expected to operate or function, from inception to completion or cessation.

Adjusted Trial Balance

A compilation of all accounts along with their balances, updated after adjustment entries, which is utilized for the creation of financial reports.