1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Molodets [167]
3 years ago
11

Identify and describe the three steps that the team should follow in order to define project scope and create a project scope st

atement.
Business
1 answer:
kirill115 [55]3 years ago
6 0

Answer:  Define Project Needs, Understand the Project Objectives, Define the Project Scope

Explanation: Project Scope is defined as the work that needs to be accomplished to deliver a product, service, or result with the specified features and functions.

The scope of the project should have a tangible objective for the organization that is undertaking the project

There are 3 main steps of project scope and they are:

1. Define Project Needs

2. Understand the Project Objectives

3. Define the Project Scope

Scope statement are the documentation of the scope of the project will explain the boundaries of the project, establish the responsibilities of each member of the team and set up procedures for how the work that is completed will be verified and approved.

You might be interested in
Shelton Co. purchased a parcel of land six years ago for $866,500. At that time, the firm invested $138,000 in grading the site
nikklg [1K]

Answer: $918,000

Explanation: Since Shelton Co is considering building a warehouse on the site because the rental lease is expiring then in  evaluating the new project all the relevant cash flows must be considered in  the protect evaluation. Market value of the land used for constructing the building is an opportunity cash flow and so must  be considered.  The Relevant cost of opportunity for land will be its fair value.

Therefore ,the initial cost cost of the warehouse project for the use of this land is $918, 000.

5 0
3 years ago
Read 2 more answers
using the T-accounts of the first national bank and the second national bank, describe what happens when Jane Brown writes a che
zhuklara [117]

Answer:

Please refer to the attached.

Before Jane Brown wrote the check, her account was $55 at First National Bank which is reflected by the checkable deposit of $55 which the bank will keep in reserve as an asset.

Joe Green has not received the money so his account at Second National will show $0 balances.

After the cheque has been written and deposited, Jane Brown's chekcable deposits at First national will become $0 as well as the reserves.

Joe Green on the other hand, having gained the $55 and deposited it will see his checkable deposits rise to $55 which the bank will keep in reserve as an asset.

7 0
3 years ago
Brooks Co. purchases debt investments as trading securities at a cost of $66,000 on December 27. This is its first and only purc
Thepotemich [5.8K]

Answer:

                                                  Dr.               Cr.

December 31

*Securities FV adjustment      $6,000

Unrealized Gain                                       $6,000

January 3

Cash                                         $4,000

Securities FV adjustment                        $1,000

Trading Securities                                    $3,000

* Securities FV adjustment is a sub asset account of trading securities.

Explanation:

Trading security are reported on its fair market value at each period end. The gain or loss should be recorded.

Dec 27, Purchase price = $66,000

Dec 31, Fair value = $72,000

Unrealized gain = $72,000 - $66,000 = $6,000

3 0
4 years ago
Royal Technology Company uses a job order cost system. The following data summarize the operations related to production for Mar
torisob [31]

Answer:

To Determine

Job order costing

Job order cost system provides a separate record of each particular quantity of product that passes through the factory. Each quantity that is manufactured in the business is known as job. Job order costing is used when the product produced are significantly different from each other.

To record: the journal entry to record all the summarized operations.

View image for journalized entry.

5 0
4 years ago
In a(n) ________, an individual or firm contracts with a parent company to set up a business or retail outlet.
strojnjashka [21]

There are different kinds of businesses. In a franchise system. an individual or firm contracts with a parent company to set up a business or retail outlet.

  • Franchising is simply known to be a type of contractual system. It is often used to commercialize products, services or technology.

There are five major types of franchises. They are: job franchise, product franchise, business format franchise, investment franchise and conversion franchise.

A franchise (or franchising) is simply known as a process of sharing products or services involving a franchisor, who establishes the trademark of the brand of a business system, and a franchisee, who is responsible for paying a royalty under the franchisor's name and system.

Learn more about Franchise from

brainly.com/question/12879015

5 0
2 years ago
Other questions:
  • The ______________card can be used anywhere.
    5·1 answer
  • Fernando Designs is considering a project that has the following cash flow and WACC data. What is the project's discounted payba
    8·1 answer
  • For each of the users of accounting​ information, identify whether the user is an external decision maker​ (E) or an internal de
    11·1 answer
  • What is generally true about savings vehicle
    13·2 answers
  • Your grandfather wants to establish a scholarship in his father’s name at a local university and has stipulated that you will ad
    12·1 answer
  • Computing and analyzing acid-test and current ratios LO A1
    12·1 answer
  • _____ is an approach to setting advertising goals and objectives which states that communication effects are the logical basis f
    14·2 answers
  • Long-Term Solvency Ratios Summary data from year-end financial statements of Palm Springs Company for 2017 follow.
    14·1 answer
  • Sherman, Inc. manufactures chainsaws that sell for $65. Each chainsaw uses $14 in direct materials and $9 in direct labor per un
    5·1 answer
  • A United States firm recently won a large contract with a company in Malaysia, by providing the foreign nation's government offi
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!