Unlike optimization models, simulation provides:
A) recommendations.
B) operating characteristics.
C) suggestions.
D) solutions .
Answer: B
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When the net price method is used to record credit sales, the sales discounts not taken account is reported as a(n)
A) addition to sales returns and allowances on the income statement. B) deduction from gross sales on the income statement. C) deduction from selling expenses on the income statement. D) addition to sales revenue on the income statement.
A frequency distribution helps determine ________
A) the extent of nonresponse B) the extent of illegitimate responses C) the presence of outliers or cases with extreme values D) all of the above
Fred is a concert violinist who is scheduled to perform at Carnegie Hall for the first time. He buys what he is told is a Stradivarius violin from a well-known, reputable dealer in quality violins, and he pays the going rate for a Stradivarius. He later learns the violin is an imitation, although it is a good imitation, which fooled even the dealer. In this case:
a. Fred has made a unilateral mistake and cannot void the contract. b. the dealer has committed fraud in the inducement. c. the sale is voidable by the purchaser for mutual mistake. d. the sale may be rescinded, because the dealer has made a nonfraudulent misrepresentation.
A corporation whose shares are not publicly traded is a partnership.
Answer the following statement true (T) or false (F)