To Keep Track of ____, It's Necessary to Set Up

question 50

Multiple Choice

To keep track of ____, it's necessary to set up a system to collect, on a regular and timely basis, data on funds actually expended.

• A) budgeted cost of work scheduled
• B) planned cost of the project
• C) actual cost on a project
• D) budgeted cost of work performed

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Definitions:

Scenario Analyses

The process of evaluating and analyzing possible future events by considering various alternative outcomes or scenarios.

Cash Flow

The total sum of money and money-like assets that move into and leave a company.

Average Collection Period

The approximate amount of time that it takes for a business to receive payments owed, in terms of receivables, from its customers and clients.

Accounts Receivable

Represents money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.