In a manufacturing model, we might simulate the number of days to produce a batch and the yield from each batch. The number of days would typically be a ____ distribution and the yield would be a ____ distribution
a. continuous; discrete
b. continuous; continuous
c. discrete; continuous
d. discrete; discrete
c
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What will be an ideal response?
All defensive strategies are intended to maximize or protect short-run profits
Indicate whether the statement is true or false
Fabian Company is considering the purchase of a machine that will save the company $2,000 per year in operating costs for a period of seven years. The most it should pay for the machine is equal to
a. $2,000 times the present value of an ordinary annuity for 7 periods. b. $14,000. c. $2,000 divided by the future value of a single sum at the end of 7 periods. d. $2,000 times the future value of an ordinary annuity for 7 periods.
Which of the following regarding accrual versus cash-basis accounting is true?
a. The FASB believes that the cash basis is appropriate for some smaller companies, especially those in the service industry. b. The cash basis is less useful in predicting the timing and amounts of future cash flows of an enterprise. c. Application of the cash basis results in an income statement reporting only revenues. d. The cash basis requires a complete set of double-entry records.