In many projects, when large dollar amounts are expended for materials or services that are used over a period longer than one cost reporting period, they can be referred to as ____ costs.
A) committed
B) conventional.
C) conventional
D) cumulative

Question

Quizplus · Accepted Answer

Committed costs refer to those expenses that have been authorized and contracted for but not yet paid for, and are typically used for long-term materials or services that will be used over the course of the project. Cumulative costs refer to the total expenses incurred to date, regardless of when the expenses were authorized or paid. Conventional costs is not a commonly used term in project management.

In Many Projects, When Large Dollar Amounts Are Expended for Materials