The Use of Simulations in Competitive Situations Is Called

question 27

Multiple Choice

The use of simulations in competitive situations is called

• A)Monte Carlo simulation.
• B)systems simulation.
• C)operational gaming.
• D)virtual reality.
• E)None of the above

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Definitions:

Contra-Asset

An asset account where the balance is expected to be a debit balance but is instead a credit balance, such as accumulated depreciation.

Worksheet

A spreadsheet used by accountants to prepare adjusting entries, financial statements, and to ensure the accounts balance before closing.

Accountant

A professional who performs accounting functions such as audits or financial statement analysis and is proficient in financial reporting and regulation.

Depreciation Expense

The method of distributing the expense of a physical asset across its serviceable duration, accounting for depreciation or becoming outdated.