The Cost Variance (CV)is a Measure of Cost Efficiency of Budgeted

question 14

True/False

The Cost Variance (CV)is a measure of cost efficiency of budgeted resources on a project,expressed as the ratio of earned value (EV)to actual cost (AC).

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Definitions:

Drawer-payor Bank

Refers to the bank upon which a check is drawn and is responsible for paying the check when it is presented.

Banking Day

A business day during which financial institutions are open for conducting banking transactions.

Bank Statement

A bank statement is a summary of financial transactions that occurred over a certain period of time in a bank account, provided regularly by the bank to the account holder.

Transactions

The act of conducting business or commercial activities, often involving the exchange of goods, services, or funds.