The Lagrangian multiplier is the __________ for a constraint in a nonlinear problem.

A. shadow price
B. payoff value
C. reducing gradient
D. reduced cost


Answer: A

Business

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A bank reconciliation is an example of which type of control?

a. An input control. b. An output control. c. A preventive control. d. A detective control.

Business

Project Paso Vineyards processes grapes into champagne, which it bottles, corks, and places on shelves in underground caverns to age for several years. During the aging process, the winemakers hand-turn the bottles a quarter rotation every few months; also, at fixed intervals, they release yeast gases to preclude unwanted fermentation. Assume that Project Paso contracts to sell a quantity of

champagne to a customer for €30 million. Under the terms of the contract, Project Paso will store the champagne in its caverns and perform all necessary functions associated with the aging process (for example, turning the bottles and releasing yeast gases). The selling price includes the costs of producing the champagne and providing services during the aging process. The customer pays Project Paso €15 million at the beginning of the aging and storage process, and agrees to pay the remainder in five years upon delivery of the champagne.When should Project Paso Vineyards recognize revenue from selling the champagne? a. Project Paso Vineyards should delay revenue recognition until it delivers the champagne to the customer. b. Project Paso Vineyards should recognize revenue when it sells the champagne to the customer. c. Project Paso Vineyards should recognize one fifth of the revenue per year after it sells the champagne to the customer. d. Project Paso Vineyards should recognize one half of the revenue 2 1/2 years after it sells the champagne to the customer. e. none of the above.

Business

Which aspect of ethical climate is typified by the statement, “everyone is expected to stick by company rules and procedures”?

A. caring B. rules C. independence D. law and code

Business

Which of the following is/are true?

a. Under U.S. GAAP, firms must test property, plant, and equipment for possible asset impairment when conditions indicate that a significant decrease in fair value has occurred. b. Under U.S. GAAP, firms initially compare the undiscounted cash flows expected from the asset to the asset's carrying value. c. Under U.S. GAAP, a fixed asset impairment occurs when the asset's carrying value exceeds the undiscounted cash flows. d. Under U.S. GAAP, the amount of the recognized impairment loss is the excess of the carrying value over the fair value of the asset. e. all of the above

Business