If There Are No Other Feasible Solutions with a Larger

question 13

Multiple Choice

If there are no other feasible solutions with a larger objective function value in the immediate neighborhood, then the feasible solution is known as

• A)a global maximum.
• B)infeasible.
• C)a nonlinear solution.
• D)a local maximum.

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Definitions:

IFRS

International Financial Reporting Standards are a set of accounting guidelines that govern how companies prepare and present their financial statements internationally.

Income

The money received, especially on a regular basis, for work, through investments, or from business activities.

Gains

Increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases in liabilities.

GAAP

GAAP, which stands for Generally Accepted Accounting Principles, is a set of accounting standards and conventions that guide how financial statements are prepared and reported.