The policy reserves on the liability side of the balance sheet of a life insurance company are estimated based on actuarial assumptions of expected future liability commitments on currently existing contracts.

Developing an understanding of the content and complexity of the project is the purpose of:

A) developing a project charter activity of the project planning phase. B) setting a baseline project plan activity of the project planning phase. C) determining project standards and procedures activity of the project planning phase. D) describing the project scope, alternatives, and feasibility activity of the project planning phase. E) closing down the project activity of the project planning phase.

Contribution margin is the portion of sales revenue left after covering fixed expenses and a profit

Indicate whether the statement is true or false.