The Documenting and Archiving of All Project Documents and Evaluating

question 44

Multiple Choice

The documenting and archiving of all project documents and evaluating the project in terms of MOV is the definition of:

• A)Contract closure
• B)Administrative closure
• C)End phase evaluation
• D)Project history
• E)Final phase management

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Definitions:

Retained Earnings

Retained earnings are the portion of a company's net income that is kept within the company instead of being paid out to shareholders as dividends, often used for reinvestment in the business or to pay down debt.

Revenue Accounts

Accounts that track the income generated from the company's primary operations and other activities.

Expense Accounts

Accounts used to track money spent or costs incurred in a company's operation to generate revenue.

Year-End Closing Process

The series of steps taken to close out business accounts at the end of the fiscal year, preparing the books for the next fiscal period.