Cost Minimization Is the Major Focus of Value Engineering

question 87

True/False

Cost minimization is the major focus of value engineering.

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Definitions:

Revenues

The income received by a business from its normal business operations, often from the sale of goods or services.

Transposition

An error in which the order of the digits is changed, such as writing $542 as $452 or $524.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check for errors in the double-entry system.

Journal Entries

The record of financial transactions in an accounting system, used to transfer information to the ledger, showing detailed information regarding date, accounts affected, and amounts.