The Cost Incurred for Completing a Scheduled Task or WBS

question 35

Multiple Choice

The cost incurred for completing a scheduled task or WBS component is the

• A) Planned Value (PV)
• B) Budget At Completion (BAC)
• C) Actual Cost (AC)
• D) Expected Time Complete (ETC)
• E) Estimate at Completion (EAC)

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Definitions:

Minimum Lease Payments

The lowest amount that a lessee is obligated to pay over the lease term for the right to use an asset, including principal and interest.

Executory Costs

Expenses associated with the ongoing execution of agreements or contracts, such as maintenance and insurance costs in leasing agreements.

Guarantee

A promise or assurance, typically in writing, that certain conditions will be fulfilled, often related to the quality, durability, or performance of a product.

Capital Lease

A capital lease is a lease agreement where the lessee receives ownership rights over the asset, for accounting purposes, similar to a purchase financed through a loan.