MGMT411 Chapter 4 Test Bank[211581]2023

Why is t necessary to consder the learning curve of resources on a project - -To estmate labor costs properly -The budgeting approach based on the collectve judgement of top and middle managers s called - -Top-Down Budgeting -A requirement of top-down budgeting - -None of the above -A problem with top-down budgeting is - -Individual team members overstate their budget needs -Which of the following statements is not true about a firm and its project accounting? - -the project manager must rely on the accounting department to make special allowances for his/her project -The name given to the budget process that aggregates income and expenditures across projects is: - -Program Oriented budget -The first unit requires 10 hours to complete. If the industry uses an 80 percent learning rate, how long should the third unit take? - -7.02 hours -The first unit required 6 hours. If the industry uses a 90 percent learning rate, how long should the fourth unit take? - -4.86 Hours -Which of the following is not true regarding top-down budgeting? - -The overall budget cost is generally not very accurate. -Which of the following is not true regarding bottom-up budgeting? - -The method tends to be inaccurate in the detailed tasks.