To keep track of ____ on a project, it's necessary to set up a system to collect, on a regular and timely basis, data on funds actually expended.
A) actual cost
B) budgeted cost
C) projected cost
D) estimated cost

Question

Quizplus · Accepted Answer

To keep track of actual cost on a project, it's necessary to set up a system to collect, on a regular and timely basis, data on funds actually expended. Budgeted cost refers to the planned cost of a project, projected cost refers to the expected cost in the future, and estimated cost is an approximation of the cost based on previous data or expert judgment.

To Keep Track of ____ on a Project, It's Necessary