In the PMBOK,the Five Logical Groupings of the Project Management

question 30

Multiple Choice

In the PMBOK,the five logical groupings of the project management inputs,tools and techniques,and outputs are called the:

• A) project management knowledge areas
• B) project management process groups
• C) life cycle stages
• D) phases and gates

Evaluate the need and procedures for maintaining compensating balances with banks.

Diagnose signs of potential internal control problems within an organization.

Understand the differences in financial outcomes between FIFO and LIFO inventory costing methods during periods of increasing costs.

Grasp the concept and application of FIFO, LIFO, and weighted average inventory costing methods.

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Definitions:

GDP Deflator

The GDP deflator is a measure of the level of prices of all new, domestically produced, final goods and services in an economy, used to convert nominal GDP into real GDP.

Basket of Goods

A basket of goods is a fixed set of consumer products and services valued on a regular basis for calculating inflation or cost of living adjustments.

Teddy Bears

Soft, stuffed toys resembling bears, often used for comfort and play by children.

Consumer Price Index

An evaluative measure that calculates the weighted mean cost of a range of consumer services and goods, from food to medical care and transportation.