An activity is an element of the project that always requires time.
Answer the following statement true (T) or false (F)
True
An activity is an element of the project that requires time. It may or may not require resources.
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A partnership liquidation occurs when
a. a new partner is admitted b. a partner dies c. the ownership interest of one partner is sold to a new partner d. the assets are sold, liabilities paid, and business operations terminated
Which one of the following would be the least reliable type of evidence?
a. Confirmations returned by bank directly to the auditor. b. Letters of communication from the Securities Exchange Commission. c. Physical examination of perpetual inventory. d. Evidence from an easily overridden information system.
In solution selection, group interaction and the achievement of consensus usually results in the acceptance of more ________ than would be accepted by an individual decision maker.
A. innovation B. risk C. novelty D. accountability
The product life-cycle concept from microeconomics and marketing provides useful insights into the relations among cash flows from operating, investing, and financing activities. During the _____ cash outflow exceeds cash inflow from operations because operations are not yet earning profits while the firm must invest in accounts receivable and inventories. Investing activities result in a net
cash outflow to build productive capacity. Firms must rely on external financing during this phase to overcome the negative cash flow from operations and investing. a. introduction phase b. growth phase c. mature phase d. late maturity phase e. decline phase