An Accrued Expense Is an Expense That Has Been Incurred,but

question 22

True/False

An accrued expense is an expense that has been incurred,but has not yet been paid.

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Definitions:

Activity Times

Duration estimates for how long individual tasks within a project or process will take to complete.

PERT Times

Estimated durations for activities involved in a project, used in the Program Evaluation and Review Technique for planning and scheduling.

Optimistic Time

The “best” activity completion time that could be obtained in a PERT network.

Probable Time

An estimate of the amount of time that might reasonably be expected to be needed to complete a specific task or project.