Answer the following statement(s) true (T) or false (F)
1. The value of making a decision based on models is dependent on how closely the model represents the real situation.
2. Uncontrollable inputs are the decision variables for a model.
3. The feasible solution is the best solution possible for a mathematical model.
4. Frederic W. Taylor is credited with providing the foundation for quantitative methodology in the early part of the 20th century.
5. To identify the choice that provides the highest profit and also uses the fewest employees, we apply a single-criterion decision process.
1. True
2. False
3. False
4. True
5. False
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Which of the following is not presented in the textbook as a purpose of environmental protection statutes?
A. Ensure that businesses have no impact on the environment. B. Promote clean air and water through regulation and permitting. C. Protect wildlife and endangered species. D. Ensure that government agencies make as minimal an impact as possible on the environment.
The value assigned to an asset such as inventory on the balance sheet determines the amount eventually recognized as an expense on the income statement
a. True b. False Indicate whether the statement is true or false
Which of the following will decrease working capital?
a. collection of accounts receivable b. purchase of a new computer with cash c. payment of salaries payable d. purchase of merchandise on credit
A product form competition, is more inclusive than a product category competition
Indicate whether the statement is true or false