Which of the following statements is not true about a firm and its project accounting?
A) each firm has its own rules with regard to the allocation of overhead
B) most firms must comply with the Sarbanes-Oxley Act
C) the project manager must rely on the accounting department to make special allowances for his/her project
D) most firms have their own accounting idiosyncrasies
E) unexpected charges may suddenly appear when the PM least expects it

Question

Quizplus · Accepted Answer

The project manager often has to work within the existing accounting frameworks and rules of the firm, and while they may negotiate or request special considerations, they cannot rely on the accounting department to make special allowances specifically for their project. This is because accounting practices are typically standardized within a firm to ensure consistency, compliance, and control.

Which of the Following Statements Is Not True About a Firm