If an Organization or Subcontractor Has Performed Similar Projects in the Past

question 116

Multiple Choice

If an organization or subcontractor has performed similar projects in the past and has kept records of how long specific activities actually took, these historical data

• A) can be used as a guide in estimating the durations of similar activities for future projects.
• B) have no value for the current project.
• C) should be stored in files.
• D) should be shared with the customer after the contract is signed to show that the contractor can complete the project.

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Definitions:

Net Income

The amount of money a company earns after subtracting all expenses, taxes, and losses, indicating the company's profitability over a time period.

Net Capital

The amount of capital that a company has after subtracting its liabilities from its assets, often used in financial analysis to assess a company's financial health.

Revised Model Business Corporation Act

A model law proposed to standardize and regulate corporate business activities in the United States.

Negative Book Value

A situation where a company's liabilities exceed its assets, resulting in a negative equity value on the balance sheet.