Which of the Following Statements Is True of a Project

question 48

Multiple Choice

Which of the following statements is true of a project sponsor?

• A) A project sponsor obtains budget,people,and other necessary resources for a project.
• B) A project sponsor has the same duties as a project manager.
• C) A project sponsor is a consultant from an external company who oversees the project development.
• D) A project sponsor always reports to a project manager.

---

Definitions:

Natural Business Year

A fiscal year that ends when business activities have reached the lowest point in an annual operating cycle.

Formal Accounting Records

Official documents and books that systematically record financial transactions and positions of a business.

Work Sheet

An internal document used by accountants to prepare financial statements, gather information, and perform adjustments before the closing of accounts.

Reversing Entries

Journal entries made the first day of the period that are the exact opposite of the related adjusting entries of the prior period.