The Estimated Types and Quantities of Resources Required for an Activity

question 63

Multiple Choice

The estimated types and quantities of resources required for an activity together with the availability of those resources will influence the

• A) estimated duration for how long it will take to perform the activity.
• B) project scope document description.
• C) project's acceptance criteria.
• D) actual costs of work performed.

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Definitions:

Periodic Inventory System

An inventory accounting system where updates to inventory levels are made at specific intervals and not recorded in real-time after each sale or purchase.

Periodic Inventory System

An inventory accounting system where updates to inventory levels are made periodically, typically at the end of a reporting period.

Periodic

In accounting, periodic refers to a system or method where financial information and inventory levels are updated at specific intervals, rather than continuously.

Purchases

The total amount spent on goods and materials bought for resale or use in production during an accounting period.