Comparison of the Actual Results for a Project to the Costs

question 18

Multiple Choice

Comparison of the actual results for a project to the costs and benefits expected at the time the project was selected is referred to as

• A)the audit trail.
• B)management control.
• C)a post-investment audit.
• D)a cost-benefit analysis.
• E)capital budgeting.

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Definitions:

Make-to-order

A production strategy where goods are only manufactured after receiving a customer's order, allowing for customization.

Make-to-stock

A production strategy where items are produced in large quantities and stockpiled for sale in anticipation of customer demand.

Procurement

The process of obtaining goods and services, including all activities from the identification of needs through to the receipt and approval of items.

Production

The process of creating goods and services from various resources.