FAAThe Federal Aviation Administration has been struggling for several years with antiquated systems, and all it takes is a single failure on one piece of the system to shut down the entire air-traffic control system for several hours, resulting in significant snarls at major airports. The most recent failure occurred in the FAA's core telecommunications network, called the Federal Telecommunications Infrastructure (FTI), which is managed by Harris Corporation. Marc Raimondi, a spokesperson for Harris Corporation, said, "The FTI system has proven to be one of the most reliable and secure communications networks operating within the civilian government." Snafus like this have been happening with alarming frequency, prompting Congress to demand the FAA and its contractors to do more
to prevent these malfunctions. The problem is that the FAA has been using a patchwork approach by updating with modern hardware and software on old systems instead of a complete overhaul of the system. The FAA's next generation of modernization will rely on satellite-based networks instead of phone lines and data cables. The FAA is waiting for White House approval on whether it will have the funds to take this next step.Refer to FAA. The FAA is what type of business buyer?
A. producer
B. reseller
C. government
D. institution
E. unbiased
Answer: C
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In discussing book value of common stock, which statement below is not correct?
A. Book value is also referred to as total equity of the firm. B. Book value per share is computed by dividing common equity by the number of common shares outstanding. C. The terms "issued" and "outstanding" are synonymous when discussing the number of common shares. D. If any preferred stock were outstanding, its carrying amount would be deducted from the total equity to obtain the common equity.
An organization's normal capacity is the average annual level of operating capacity needed to meet its expected sales demand
Indicate whether the statement is true or false
Broham Manufacturing Company purchased a machine on January 2, 2014 . The invoice price of the machine was $40,000, and the vendor offered a 2 percent discount for payment within ten days. The following additional costs were incurred in connection with the machine: Transportation-in .................................... $1,200 Installation cost .................................... 700 Testing
costs prior to regular operation ............. 550 If the invoice is paid within the discount period, Broham should record the acquisition cost of the machine at a. $41,650. b. $41,100. c. $40,400. d. $39,200.
The journal entry a company uses to record accrued vacation privileges for its employees at the end of the year is
A) debit Vacation Pay Expense; credit Vacation Pay Payable B) debit Vacation Pay Payable; credit Vacation Pay Expense C) debit Salary Expense; credit Cash D) debit Salary Expense; credit Salaries Payable