The correct answer is C. Latest start of an activity is its latest finish minus its duration.
The earliest start of an activity is the early event time of the node it leaves. This is because the activity cannot start until all of the activities that precede it have finished. The latest finish of an activity is the late event time of the node it enters. This is because the activity must finish before all of the activities that follow it can start.
The latest start of an activity is the earliest start of the activity plus its duration. This is because the activity cannot start any earlier than the earliest start of the activity, and it must finish by the latest finish of the activity.
Therefore, the statement “Latest start of an activity is its latest finish minus its duration” is incorrect.