When using a cost formula to determine total expected costs for cost items having a mixed (semi-variable) cost behavior pattern, total costs are expected to decrease, and per unit variable costs are expected to remain constant as the level of activity decreases.
The total cost formula is utilized to drive the collective variable costs and fixed costs of a bunch of goods or services. This knowledge can help evaluate the total cost of a product or derivative line. The formula is the standard fixed cost per unit plus the average variable cost per unit, multiplied by the number of divisions. The description of a fixed cost is a cost that does not vary with volume, so the average fixed cost component of the formula simply involves within a very limited volume spectrum.
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you are showing one of the project management team members a new hierarchical chart that you created to track project resources. you tell them that the chart can be used for things such as showing all of the electricians and the associated equipment that are in use across the project. which type of chart are you showing them? answers a. obs b. rbs c. wbs d. raci
The resource breakdown structure (RBS) is a hierarchical style chart that is used when developing the resource management plan.
What is resource breakdown structure (RBS) chart?A breakdown of project resources by resource category and resource type is shown in the RBS. An RBS might, for instance, show all of the electricians and tools being utilised throughout various construction-related areas of a building.
The RBS typically makes expense tracking easier and is frequently compatible with an organization's accounting system.
Project managers develop a resource breakdown structure (RBS), which is a table, list, or diagram, to indicate the resources required for each activity in a project plan. At every step of the project, the RBS shows how resources are distributed among team members and staff.
A list of the resources required to complete a project is called an RBS, or resource breakdown structure. It includes everything that is expensive, such as labor, supplies, equipment, permits, locations, and time.
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the most common business organizations in the united states are
The most common business organization in the United States is the sole proprietorship.
A sole proprietorship is a form of business that can be owned and operated by an individual, a corporation, or a limited liability partnership. In this form of business, there are no business partners. It is the simplest form of business organization and is not a legal entity.
The following describes the legal position of a sole proprietorship: It shares the same legal status as the business owner. A sole proprietorship offers two key benefits, including less paperwork and affordable startup fees.
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suppose a firm manager converts 65% of his available factory space in to an indoor playground for neighborhood children. the implicit cost of this decision is
The value of the next-best option for the space is the decision's implicit cost.
Implicit costs are any costs that have already occurred but aren't always shown or recorded as separate items. It is an opportunity cost that arises when a company commits internal resources to a project without obtaining any direct compensation for doing so. This suggests that whenever a corporation allocates its resources, there is never a financial transaction because it always forgoes the opportunity to make money from using those resources in another way. Simply put, utilising an asset rather than renting it or buying it has a cost attached to it.
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a borrower obtains a $150,000 reverse mortgage with monthly payments over 10 years. if the interest rate of the mortgage loan is 8% percent what is the monthly payment received by the borrower? multiple choice $863 $1,820 $1,250 $820
A reverse mortgage is a loan for homeowners over the age of 62 that allows them to convert a portion of their home equity into cash without having to sell their home or make monthly mortgage payments.
The monthly payment received by the borrower can be calculated using a formula that takes into account the loan amount, the interest rate, and the number of payments. In this case, the loan amount is $150,000, the interest rate is 8%, and the number of payments is 120 (10 years x 12 months). P = [I * (1 + I)^n] / [(1 + I)^n - 1] * L
where:
P = monthly payment
I = interest rate (0.08)
n = number of payments (120)
L = loan amount ($150,000)
Plugging in the values, we get:
P = [0.08 * (1 + 0.08)^120] / [(1 + 0.08)^120 - 1] * $150,000
P = $1,250
So, the monthly payment received by the borrower is $1,250.
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explain the major options available to a bank that is short of reserves. what determines which option a bank is likely to choose
The minimal amount of cash that financial institutions must keep on hand in order to comply with central bank standards is known as bank reserves.
Bank Reserves are the actual paper currency that must be retained by the bank in a local vault or in an account with the government's main bank.
Banks that are short on reserves have five main options:
(1) Use the federal funds market to borrow;
(2) Take out a loan at the discount window from the Fed.
(3) market a few securities,
(4) lower the amount of unpaid debt,
(5) release a few CDs
The decision a bank makes is influenced by its financial situation. Because they can borrow at a lower discount rate in the federal funds market or from the Federal Reserve, banks with strong financial standing are more likely to do so.
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leather dress shoes are a normal good. suppose the cost of leather increases, but incomes decrease. what happens in the market for leather dress shoes?
When the price of leather increases but revenues decrease, the market for leather dress shoes is likely to experience downward pressure. The increased cost of leather means that the cost of manufacturing leather dress shoes will increase, making them more expensive to buy.
With incomes falling, consumers will not be able to afford these more expensive leather dress shoes, leading to a decrease in demand. As a result, the market for leather dress shoes will shrink as fewer people will be able to buy them. Sellers may then be forced to lower prices to attract buyers, which could lead to a reduction in the overall quality of leather dress shoes.
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moral dilemmas faced by businesses include all of the following except: a. shared information can lead to identity theft. b. water pollution is a problem that challenges business and society. c. the transmission of information. d. information can be used for control, power, and manipulation.
All of the following are examples of moral conundrums corporations encounter, with the exception of water contamination, which is a problem that affects both business and society.
What difficulties do businesses now face?
It's not surprising that coronavirus limitations continue to be the top issue for businesses in the new year. Many may be shocked, though, to see that sustainability and the environment issues came in second with 22%.
Your people leaders can exercise their managerial abilities in real-world circumstances with workers by participating in the Management Challenge, a team-based leadership development activity.
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The process of transferring the debits and credits from the journal entries to the accounts is calledA. slidingB. transposingC. posting
Posting is the act of moving the debits and credits from the accounts to the journal entries.
What steps are involved in moving a diary entry?Posting entails transferring the entries from the ledger to the original entry books (journal). In order to provide a meaningful conclusion and advance the accounting process, posting is the act of gathering all transactions pertaining to a specific account in one location.
What steps constitute a transfer?When a seller and buyer transact (the asset is moved from the seller's custodian to the buyer's), when an asset owner switches brokerage firms, or when an asset owner moves assets between one or more brokerage accounts they control, transfer processes are utilized.
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what are the three primary activities of a business?
Operating, investing, and financing are the three basic categories of business activity. The cash flow statement includes a list of the cash flows that each of these operations used and produced.
What constitutes a primary business activity?The value chain, which extends from inbound resources to production processes, outbound items and their distribution, the "far end of the value chain," marketing and sales, and customer care and after-sales services, is what constitutes primary activities.
How many major activities exist?Primary, secondary, and tertiary industries make up the bulk of the Indian economy. The primary sector of the economy is the one that directly utilises natural resources. Mining, forestry, agriculture, fishing, and oil and gas extraction are among the main pursuits.
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a condition of a product or process design that remains relatively stable, with minimal variation, even though factors that influence operations or usage vary is called
A design characteristic of a product or process that persists with little alteration despite operational or usage-related variables
What is variation ?A deviation from a recognised norm may be crucial. A doctor may be alerted to the possibility of a heart attack by a change in the pattern of the patient's heartbeat, for instance. Temperature variations from expected ranges show that global warming is causing a change in our climate. However, not that all variation is unfavourable. One characteristic that makes every puppy individually appealing is the enormous variance in coloration of dogs, even between breeds. Any difference among cells, individuals, or organism groups of the any species that results from genetic variations is referred to as variety in biology. Physical characteristics, metabolism, fertility, method of reproduction, behaviour, learning , mental capacity, and other evident or quantifiable features can all vary.
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Salary Payable at the beginning of the month totals $ 26 comma 000$26,000. During the month, salaries of $ 130 comma 000$130,000 were accrued as expense. If ending Salary Payable is $ 16 comma 000$16,000, what amount of cash did the company pay for salaries during the month?
In the example case, the corporation spent $134,000 in cash on salaries for the month.
What are the expenses in accounting?In accounting, the money being spent and the expenses incurred by a business in search of revenue are referred to as expenses. Simply explained, account expenses are particular company with a company's operation that collectively enable the steps necessary to produce profit.
beginning of the pay period = $20,000
accumulated salary costs for the month = $130,000
Payable final salary = $16,000
Salary payments made during the month are calculated as follows:
Salaries paid equal (Starting salary plus accrued salary expense) minus the final salary owed.
= (20,000 + 130,000) - 16,000
=$134,000
Consequently, $134,000 in salary were paid out during the month.
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while attending school, you work part time at a coffee shop. last year, you made $8,700. why might you still file your taxes, even though you made less than the standard deduction?
The Income Tax Act gives a variety of mechanisms for residents to claim deductions and refunds in addition to measures for taxing citizens' income.
What would happen if you failed to report your income?The IT department will charge penalty interest at a rate of 1% per month starting on the date the tax becomes due when returns are not submitted on time even when there are unpaid taxes. If the IT department thinks the delay was deliberate, it may also choose to impose sanctions. It is preferable to avoid this situation.
Is the new tax system's standard deduction of $50,000 applicable?A basic deduction of INR 50,000 has also been added under the new income tax system.
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2.37 a no-load (commission-free) mutual fund has grown at a rate of 11% compounded annually since its beginning. if it is anticipated that it will continue to grow at that rate, how much must be invested every year so that $15,000 will be accumulated at the end of five years?;
Jackson must invest $2,414.45 every year for the next 5 years to accumulate $15,000 at the end of the 5-year period at a 11% annual interest rate.
To calculate the amount that must be invested every year to accumulate $15,000 in 5 years, we can use the future value formula for an annuity:
FV = Pmt x (((1 + r)^n - 1) / r)
where FV is the future value, Pmt is the amount invested every year, r is the annual interest rate, and n is the number of years.
We can use the given information to find the annual interest rate, which is 11%. We can also use the future value formula to find the present value of the $15,000 that we want to accumulate in 5 years:
PV = [tex]FV / (1 + r)^n[/tex]
PV = 15000 / [tex](1 + 0.11)^5[/tex]
PV = $8,312.19
This means that we need to invest $8,312.19 now so that it will grow to $15,000 in 5 years at a 11% annual interest rate.
Now, we can use the future value formula for an annuity to find the amount that must be invested every year:
FV = Pmt x [tex](((1 + r)^n - 1) / r)[/tex]
$15,000 = Pmt x [tex](((1 + 0.11)^5 - 1) / 0.11)[/tex]
Pmt = $2,414.45
Therefore, Jackson must invest $2,414.45 every year for the next 5 years to accumulate $15,000 at the end of the 5-year period at a 11% annual interest rate.
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mary believes that interest rates are going to fall in the near future and remain low for a considerable period of time. she should invest in:
Mary believes that interest rates are going to fall in the near future and remain low for a considerable period of time. she should invest in long-term, fixed rate certificate of deposit .
What is the interest rate theory?
The agio theory of interest, often known as the time preference theory of interest, offers an explanation for how time value of money works.
According to this hypothesis, individuals prefer to spend money now rather than preserve it for the future, which ensures that interest rates will always be positive and that a dollar will be worth more today than it would be tomorrow.
What are the four theories of interest rates?
There are four primary theories of interest rates: the Austrian School theory, the neoclassical theory, the liquidity theory, and the loan theory.
The nominal interest rate, the effective rate, and the real interest rate are the fundamentally three different categories of interest rates.
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A type of security that is frequently used in mortgages and requires that the loan payment contain both interest and loan principal is called:_______
A type of security that is frequently used in mortgages and requires that the loan payment contain both interest and loan principal is called: Amortizing.
What type of security is a mortgage?On the secondary market, mortgage-backed securities are bought and sold. A specific kind of asset-backed securities is an MBS. Processes for mortgage finance and house loans have become simpler thanks to asset-backed securities. Ginnie Mae, Freddie Mac, and Fannie Mae are the main issuers of mortgage-backed securities.
When a loan is amortising, both the interest and principal payments are incorporated into the monthly instalments. In a loan that does not amortise, only periodic interest payments are made; the whole principal is only reimbursed when the debt matures.
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b. explain why there is a difference between the present value of the strayer lottery jackpot and the future value of the 26 annual payments based on your calculations and the information provided.
The present value of the Strayer lottery jackpot and the future value of the 26 annual payments are different due to the time value of money.
What is Strayer Lottery ?Money received today is worth more than the same amount received in the future, according to the time value of money theory. This is so that money earned today, as opposed to money received in the future, can be invested and earn a return. As a result, in order to calculate the present value of money, the future worth of money must be discounted.Therefore, the difference between the present value of the jackpot and the future value of the 26 annual payments is due to the different time frames in which the money is received and the impact of the time value of money on the value of the payments. The present value of the jackpot is lower because the money will be received all at once and the future value of the payments is higher because the payments will be received over a longer period of time and therefore have a greater value.To know more about Jackpot , check out :
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while one european nation might experience a gain because of the high costs associated with the products it exports to another european nation, that second nation might experience a loss because it is trading fewer products that cost less. which characteristic of the mercantilist theory does this reflect?
A hallmark of mercantilist is a zero-sum game. Mercantilism was an economic trading system from the 16th century to his 18th century.
Mercantilism was based on the principle that world wealth was static, so governments had to regulate trade in order to build wealth and national power. Many European countries sought to capture as large a share of this wealth as possible by maximizing exports and limiting imports through tariffs.
Mercantilism was the dominant economic system from the 16th to the 18th century. Mercantilism was based on the idea that a nation's wealth and power were best financed by increasing exports and decreasing imports.
It is shaped by the belief that world wealth is static and that a nation's economic health is highly dependent on its supply of capital.
Because of the nationalistic nature of mercantilism, states often used military force to protect local markets and supplies.
Mercantilist was superseded by the economic theory of free trade in the mid-eighteenth century.
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which of these is not part of the promotional mix? a. direct selling b. sales promtoion c. advertising d. none of the above
Price is not part of the promotional mix. Atmospherics is not an element of the promotional mix.
What are the four different kinds of promotion mix?Four additional components are included in the promotion mix, which businesses use to achieve their marketing goals.The components are public relations, personal selling, advertising, and sales promotion.
What are some common ways to advance?The seven promotional categories include selling, sales promotion, online marketing, personal selling, uses salespeople to approach, public relations, and sponsorships.Businesses wanting to flourish over the long term have a lot to gain from promotional marketing.
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true or false: transactions where a customer uses a bank credit card (e.g., visa, mastercard) are considered cash sales
Transactions where a patron makes use of a bank credit score card (e.g., Visa, MasterCard) are viewed cash sales. True.
What kind of account is restrained cash?Understanding Restricted Cash
Restricted cash is classified as either a present day asset, which is used up within one year, or a non-current asset, which are long-term assets. As a result, if the constrained money is anticipated to be used in the short-term, it is categorized as a contemporary asset.
Visa and Mastercard are by way of a ways the most broadly widespread cards, with Discover barely in the back of those manufacturers and American Express in a far away fourth place. Any retailer that accepts card repayments probably takes Visa and Mastercard.
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https://brainly.com/question/14279491#SPJ4Transactions where a patron makes use of a bank credit score card (e.g., Visa, MasterCard) are viewed cash sales. True.
What kind of account is restrained cash?Understanding Restricted Cash
Restricted cash is classified as either a present day asset, which is used up within one year, or a non-current asset, which are long-term assets. As a result, if the constrained money is anticipated to be used in the short-term, it is categorized as a contemporary asset.
Visa and Mastercard are by way of a ways the most broadly widespread cards, with Discover barely in the back of those manufacturers and American Express in a far away fourth place. Any retailer that accepts card repayments probably takes Visa and Mastercard.
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brainly.com/question/14279491#SPJ4suppose the maximum risk value for a particular client is 0.4. what is the optimal allocation of investment funds among stocks, bonds, mutual funds, and cash? what is the annual rate of return and the total risk for the optimal portfolio?
As the maximum risk value for the particular client is 0.4, the optimal allocation of investment funds among stocks, bonds, mutual funds, and cash would depend on several factors, such as the client's investment .
What is maximum risk Value ?It is impossible to calculate the ideal allocation of investment funds or the annual rate of return and total risk for the ideal portfolio without detailed information on these aspects and the anticipated returns and hazards of the individual investments. Depending on the particular investments and market conditions, the risk-return tradeoff and allocation of investment funds will change.It is crucial to remember that choosing the best investment portfolio requires careful consideration of a number of variables and entails making decisions based on the particular circumstances and objectives of the client. The customer can benefit from guidance from a seasoned financial advisor or investment professional in making educated judgements and choosing the best distribution of investment assets.To know more about maximum risk value , check out :
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suppose you buy a round lot of francesca industries stock (100 shares) on 55 percent margin when the stock is selling at $30 a share. the broker charges a 14 percent annual interest rate, and commissions are 4 percent of the stock value on the purchase and sale. a year later you receive a $0.65 per share dividend and sell the stock for $39 a share. what is your rate of return on francesca industries? do not round intermediate calculations. round your answer to two decimal places.
The rate of return on Francesca industries is 125.45 percent.
The rate of return is a measure of the profit or loss on an investment relative to the original investment.
Initial investment: You bought 100 shares of Francesca industries stock at $30 per share, so the initial investment is $3,000. However, you only put up 55 percent of the purchase price, so your initial investment is 55 percent of $3,000, which is $1,650.
Interest and commission: The 14 percent annual interest rate on the $1,650 initial investment is $231. The 4 percent commission fee on the purchase and sale of the stock is 4 percent of $3,000, which is $120.
Dividends received: The stock paid a $0.65 per share dividend, so you received $65 in dividends.
Sale price of the stock: The stock was sold for $39 per share, so the sale price was
=> 100 shares x $39 per share = $3,900.
Total return: The total return on the investment is
=> $65 dividends + $3,900 sale price - $1,650 initial investment - $231 interest - $120 commission = $2,064.
Rate of return: To calculate the rate of return, divide the total return by the initial investment and multiply by 100 to express it as a percentage:
$2,064 / $1,650 * 100 = 125.45 percent
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can i get an advance on my tax refund if i already filed
If you have already filed your tax return, you are eligible to receive an advance on your refund.
What options are available to receive a refund advance?A tax refund loan, a tax refund advance check, or a return anticipation loan are some of the ways you might acquire an advance on your refund. However, bear in mind that these choices could involve fees and high interest rates, so it's crucial to weigh the costs and advantages before making a decision. Furthermore, keep in mind that receiving an advance on your refund entails borrowing against it, which means you'll have less money available when the refund really arrives.
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Yes, you can get an advance on your tax refund if you've already filed. This is known as a "tax refund loan" or "tax refund advance". However, keep in mind that these types of advances usually come with fees and interest charges, and they may also require a credit check.
What is tax refund?Refunds of taxes are typically cause for celebration. In actuality, though, they frequently imply that you overpaid your income taxes. You will receive a refund from the federal or state governments for any excess funds you paid to them. By accurately completing employee tax forms and estimating or revising deductions, you can prevent overpaying.
Taxpayers may receive refunds for a variety of reasons or may even owe the government money in some circumstances. When you started working for an employer, you had to complete a W-4 form. You specified on the form how much tax was to be deducted from each paycheck.
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solarcell corporation has $20,000 that it plans to invest in marketable securities. it is choosing between at
Solarcell Corporation should invest in the State of Florida municipal bonds, yielding 8% after taxes. The correct answer is B.
This is because they have the highest after-tax yield compared to AT&T bonds (6.6%) and AT&T preferred stock (7.92%).
AT&T bonds yield 11%, but after paying 40% in taxes, the after-tax yield is 6.6% ($2,200 interest * 60% after taxes/$20,000 investment).
AT&T preferred stock has a 9% dividend yield, but after paying taxes on 70% of it, the after-tax yield is 7.92% (9% - 1.08% in taxes). Thus, Florida muni bonds offer the highest after-tax yield of 8% and Option B holds true.
This question should be provided as:
Solarcell Corporation has $20,000 which it plans to invest in marketable securities. It is choosing between AT&T bonds which yield 11%, State of Florida municipal bonds which yield 8%, and AT&T preferred stock with a dividend yield of 9%. Solarcell's corporate tax rate is 40%, and 70% of the preferred stock dividends it receives are tax exempt. Assuming that the investments are equally risky and that Solarcell chooses strictly on the basis of after-tax returns, which security should be selected? Answer by giving the after-tax rate of return on the highest yielding security.
a. 8.46%b. 8.00%c. 7.92%d. 9.00%e. 9.16%Learn more about marketable securities brainly.com/question/30268448
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the amount, in dollars, of clarence's savings account can be represented by the expression 6x 150. clarence saved the same amount x each month for a period of 6 months. his grandmother contributed an additional amount each month to clarence's savings account. how much did his grandmother contribute each month?
Clarence grandmother contributed 7x88 each month into his savings account.
What is savings account?At a retail bank, a savings account is a checking account. Common characteristics include a cap on withdrawals, a lack of check and connected debit card facilities, a lack of transfer alternatives, and a prohibition on going overdrawn. A savings account is a fundamental kind of financial product that lets you deposit money and often earns a little amount of interest. These accounts offer a safe location to keep your money while earning interest and are federally insured up to $250,000 per account owner. The part of money left over after paying for current expenses is saved. To put it another way, it is cash that is held aside for later use rather than being spent right away.
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2.52 how much do you have to deposit now in your savings account that earns a 6% annual interest if you want to withdraw the annual
$6196 should be the deposit in year 0 in your savings account that earns a 6% annual interest.
The value of a sum of money today is known as its present value. For instance, if you are promised $110 in a year, the present value is what that $110 is currently worth.
The present value can be calculated as follows:
Present value=
1st year withdrawal / (1+Interest) + 2nd year withdrawal / (1+Interest)² +....... nth year withdrawal / (1+Interest)ⁿ
= {1,000/(1+0.06) + 1,250 /(1+0.06)² + 1,500/(1+0.06)³ + 1,750/(1+0.06)⁴ + 2,000/(1+0.06)⁵}
= $6196
Hence, $6196 should be the deposit in year 0.
The deposit should be $ 6,196 in year 0.
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real property refers to the ownership rights associated with real estate. group startstrue or falsetrue, unselectedfalse, unselectedgroup ends
Real property refers to the ownership rights associated with real estate. - True
Real estate refers to a type of tangible property or ownership such as real estate and various types of structures. The most typical examples are things like roads, buildings, and canals. Land law defines it as frequently the right to use, manage, and dispose of land and anything affixed to it. It is sometimes referred to as real estate or immovable property as well.
It is a class of ownership that has a material existence and is viewed as everlasting, as opposed to personal wealth, which is transferable and has no physical presence. These property rights include the right to possess, use, and transfer the property as well as the ability to exclude others from using it. Real estate can be passed in a variety of ways, such as through sales, grants, legacies, and rentals.
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When an economy produces more smartphones and fewer cars, it is answering the?
When an economy produces more smartphones and fewer cars, it is answering the 'what' question.
What is an economy?
A complex system of linked trading, consumption, and production activities make up an economy, and it ultimately decides how resources are distributed among all the players. The requirements of persons who live and work inside the economy are met by the creation, consumption, and distribution of products and services. A country, a region, a single industry, or even a family may be represented by an economy. Every economy is different. Each is shaped by the resources, laws, cultures, histories, and geographies that are unique to it. Each change as a result of the individuals' decisions and behaviours. These choices are decided using a combination of collective or hierarchical decision-making and market transactions.
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according to the case, what were some of the benefits of the geographic and product-specific sales force strategy (choose all that apply)? group of answer choices minimized sales force turnover offered customers highly knowledgeable sale pepole. none of the above
Knowledgeable sale pepole were some of the benefits of the geographic and product-specific sales force strategy. By setting up your sales force according to geography or territory, each salesperson can become knowledgeable about a certain region.
They can cultivate relationships with neighbourhood businesses strategy, learn about local rivals, and keep tabs on target accounts.A great sales structure improves coordination and communication, clarifies roles and responsibilities for each employee, and cultivates a more knowledgeable product sales team. Together, these factors result in less disagreement among team members and greater customer involvement. There are unique advantages that each of China's 17 provinces possesses known as geographic advantages. Each province has one geographic advantage.
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Suppose that there are 10 million workers in Canada and that each of these workers can produce either 2 cars or 30 bushels of wheat in a year.What is the opportunity cost of producing a car in Canada? What is the opportunity cost of producing a bushel of wheat in Canada? Explain the relationship between the opportunity costs of the two goods
The opportunity cost of making a vehicle in Canada is 30 bushels of wheat, while the opportunity cost of making a bushel of wheat in Canada is 1/15 of a car for every bushel of wheat (2 automobiles for every 30 bushels).
What is opportunity cost?Opportunity cost is the price of forgoing an option in favour of taking a specific course of action or making a particular choice. When a certain course of action or choice is chosen, the second-best option is foregone. The value of the best alternative that is not selected is represented by opportunity cost, which calculates the cost of an opportunity in terms of the next best option. By weighing the advantages and disadvantages of numerous possibilities and identifying the most effective use of resources, opportunity cost aids people and organizations in making educated decisions. It is an important economics concept that enables people and organisztions to make trade-offs and allocate resources efficiently.
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he component of the project management plan that describes how project costs will be planned, structured and controlled is called the project financial plan. a. true b. false
It is true that the component of project management plan that describes how project costs will be planned, structured and controlled is called project financial plan.
What is project management?Managing a team's work to fulfil all project goals within the given constraints is the process of project management. Budget, time, and scope are the three basic constraints. The other issue is how to distribute the required inputs as efficiently as possible while still achieving predetermined objectives. The objective of project management is to deliver a finished product that satisfies the client's objectives. Project management frequently aims to change the client's brief in order to more successfully accomplish the client's goals. A project is a brief, unique endeavour that has a specified start and end and is undertaken to accomplish specific goals and objectives, typically to affect positive change or contribute value.
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