The Simultaneous Equation Method Is

question 33

Multiple Choice

The simultaneous equation method is

• A)an alternative to the corner point method.
• B)useful only in minimization methods.
• C)an algebraic means for solving the intersection of two or more constraint equations.
• D)useful only when more than two product variables exist in a product mix problem.

---

Definitions:

Accrued Liability

A liability that has been incurred, is recognized on the balance sheet, and has not yet been paid.

Deferred Revenues

Deferred revenues are payments received by a company for goods or services that have not yet been delivered or performed, recognized as liabilities on the balance sheet.

Long Term Liabilities

Financial obligations of a company that are due beyond one year, including bonds payable, long-term loans, and lease obligations.

Current Liability

A company's debts or obligations that are due within one year or within the normal operating cycle of the business.