Final answer:
MS Project assumes 8-hour workdays and no work on weekends by default, excluding a flex work schedule unless customized by the user; the correct option is E) A and B only.
Step-by-step explanation:
The assumptions that MS Project makes regarding time include 8-hour work days and no work on Saturdays or Sundays. MS Project's default calendar configuration reflects the standard workweek and does not typically include a flex work schedule unless it is specifically customized by the user. Therefore, the correct option regarding MS Project's time assumptions is E) A and B only.