Which of the Following Is a Disadvantage of Using Simulation

question 12

Multiple Choice

Which of the following is a disadvantage of using simulation?

• A)Experimenting directly with a simulation model is often not feasible.
• B)Each simulation run provides only a sample of how the real system will operate.
• C)The simulation models are used to describe systems without requiring the assumptions that are required by mathematical models.
• D)Simulation models warn against poor decision strategies by projecting disastrous outcomes such as system failures, large financial losses, and so on.

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Definitions:

Accrued Expenses

Expenses that have been incurred but not yet paid for or recorded through a formal payment, reflecting in the financial statements through adjusting entries.

Prepaid Insurance

Expenses paid in advance for insurance coverage, which is recognized as an asset until the period the insurance benefits are used up.

Income Statement

A financial report summarizing a company's revenues, expenses, and profits over a specific accounting period, showing the company's operational performance.

Balance Sheet

An account manifest that outlines an organization's assets, debts, and stockholders' equity at a particular time.