What is a basic element of work or a task that must be performed over a given period of time in order to complete a project called?

A. WBS element

B. Activity

C. Resource

D. Commodity

A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data.

A cyclical process model was chosen as the basis for total cost management (TCM) because:

A. It is one of the basic tenets of quality improvement

B. Refinement is needed to prepare the estimate at completion (EAC)

C. Strategic assets and projects have inherent life cycles

D. It facilitates development of budgets and schedules

A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data.

The recognition of loss of value of a natural resource used in the production process is referred to as:

A. Capital reduction

B. Net loss

C. Depreciation

D. Depletion

Money is value. Having money when you need it is very important. Money can also be valuable when used wisely by knowing when to spend and when to conserve Also, planning now for future expenses can be a plus to the company rather than a debit.

There are several ways to capitalize money and spending. Basically there is the single payment method that has a compound amount factor and a present worth factor. There is the uniform annual series that has a sinking fund factor, capital recovery factor and also the compound amount factor and present worth factor. At this point, we can assure money is worth 10%.

The following question requires your selection of CCC/CCE Scenario 7 (4.8.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. If you are scheduled for a $100,000 payment at the end of each year for the next five years, what is the equivalent amount if you were to make a lump sum payment now?

A. $162,370

B. $679,397

C. $379,100

D. $500,000

An agricultural corporation that paid 53% in income tax wanted to build a grain elevator designed to last twenty-five (25) years at a cost of $80,000 with no salvage value. Annual income generated would be $22,500 and annual expenditures

were to be $12,000.

Answer the question using a straight line depreciation and a 10% interest rate.

You have been asked to provide ETC information to management. Based on the following information, what is the ETC?

Original Budget = $9,000,000

Actuals to date = $3,513,000

Current estimate at completion = $10,613,000

Actuals for current month = $1,200,000

A. $10,613,000

B. $9,000,000

C. $5,487,000

D. $7,100,000