What Is a Project Charter

question 65

Multiple Choice

What is a project charter?

• A)Specific factors that can limit options.
• B)Factors that are considered to be true, real, or certain without proof or demonstration.
• C)Quantifiable criteria that must be met for the project to be considered a success.
• D)A document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.

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Definitions:

Ademption

The situation in wills and estates where a specific bequest cannot be distributed because the item no longer exists in the decedent's estate.

Legacies

Gifts or inheritances left to someone in a will.

Grantor Trust

A grantor trust is a legal entity in which the trust's creator maintains control over the assets and income, often leading to the income being taxed directly to the creator.

Federal Income Tax

The tax levied by the IRS on the annual earnings of individuals, corporations, trusts, and other legal entities.