One Practical Step That Should Be Taken in Order for an Organization

question 90

Multiple Choice

One practical step that should be taken in order for an organization to begin developing a core of project management professionals is to:

• A)Fire the unprofessional project managers.
• B)Hire professional project managers.
• C)Formalize the organization's commitment with training programs.
• D)Review instances where projects were poorly managed.

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Definitions:

Notes Receivable

Financial claims against others that are documented by formal legal instruments indicating a right to receive payments.

Journal Entry

A record of the financial transactions in the accounting books of a business, showing the accounts and amounts debited and credited.

Net Realizable Value

The estimated selling price of inventory in the ordinary course of business minus any costs of completion, disposal, and transportation.

Allowance for Doubtful Accounts

This is a contra account that reduces accounts receivable to reflect the estimated amount of debts that may not be collected.