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If the Total Debits and Total Credits on a Trial

question 119

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If the total debits and total credits on a trial balance do not equal,redo the addition of the debit and credit columns.


Definitions:

Actual Cost

The total expense incurred for a project, activity, or item, reflecting the real financial expenditure.

Cost Variance

The difference between the budgeted or estimated cost of a project and the actual cost incurred.

Cost Performance Index

A measure in project management that calculates the efficiency of budget utilization by dividing the earned value by the actual costs.

Schedule Variance

The difference between the planned and the actual project progress, indicating whether a project is ahead or behind schedule.

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