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Question :
(a) A project must have a useful purpose. Therefore, as a project is evaluated, the team should determine the requirements of the local community and industry. These requirements are often categorized as needs, desires and luxuries. Differentiate these three categories.
(b) During the beginning phases of a project, the project manager often prepares initial costs needed to complete a given item within the project and estimates for the time. Costs are normally subdivided in a variety of categories. Briefly describe the following categories:
(i) Direct Costs (ii) Variable Costs (iii) Fixed Costs (iv) Overhead Costs and Rates (v) Indirect Costs
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Checklists or questionnaires Audit firm will have a standard list of control questions. Audit staff can quickly ascertain which if any, are in operation by the client. There
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Q. Show the Transaction risk? This is the risk occur on short-term foreign currency transactions that the actual income or cost may be different from the income or cost expecte
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