Exhibit 15.1 The Following Questions Employ the AON Network and Partial Spreadsheet

question 71

Multiple Choice

Exhibit 15.1
The following questions employ the AON network and partial spreadsheet below.
-For an activity with duration t, slack can be calculated as

• A) LS-ES
• B) LF-t
• C) LS+t
• D) LS+ES

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Definitions:

Average Collection Period

The average time it takes for a company to receive payments owed by its customers.

Net Sales

Revenue from sales after deducting returns, allowances for damaged goods, and discounts.

Accounts Receivable

Amounts owed to a business by its customers for goods or services delivered on credit.

Allowance Method

An accounting technique used to estimate uncollectible accounts receivable and record bad debts expenses.