All of the Following Statements Accurately Describe a Project Management

question 40

Multiple Choice

All of the following statements accurately describe a project management plan EXCEPT:

• A) It serves as an informal contract between the project team and the sponsor
• B) It may be a general,summary document or quite detailed.
• C) It may be composed of one or more subsidiary plans.
• D) It is developed iteratively,starting at a high level and becoming progressively more detailed as information becomes available.

---

Definitions:

General Partnership

A form of business partnership where all partners share both the management and the liability for the company's debts.

Capital Balance

The amount of money that an entity has in its capital account, reflecting the net worth contributed by the owners/shareholders plus retained earnings.

Bonus Method

An accounting method for recording partnership transactions where a new partner's investment is more than or less than the book value of the capital they are entitled to.

Capital Balance

The amount of capital recorded in a company's accounts, representing the sum of the initial capital invested and additional contributions, minus any withdrawals.