A Project Charter Is a Document Issued by the Project

question 46

True/False

A project charter is 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:

Useful Lives

The estimated period during which an asset is expected to be usable for the purpose for which it was acquired.

Revaluation Surplus

An increase in the carrying amount of an asset to its fair value, exceeding its previously recorded nominal value, recognized directly in equity.

IFRS

International Financial Reporting Standards, which are global accounting standards for preparing financial statements.

Owners' Equity

The residual interest in the assets of a company after deducting its liabilities, representing the owner's claim against the company's assets.