69. Which statement describes best the meaning of the term cost baseline?

a. A cost baseline is always created by translating time-phased cost information into cost data on activity or work-package level.
b. A cost baseline is an approved time-phased budget that will be used to measure and monitor cost performance on the project.
c. Data to draw a cost baseline can be easily generated and updated as necessary from information related to actual project cost.
d. A cost baseline is usually displayed in the form of an inverse S-curve drawn from the beginning of the project until data date