A System of Three Equations in Two Unknowns Corresponds to Three

question 59

Multiple Choice

A system of three equations in two unknowns corresponds to three lines in the plane. Describe how these lines might be positioned if the system has no solutions ?

• A)The three lines could form a triangle.
• B) There could be two parallel lines, with a third crossing them.
• C) The three lines intersect at a single point.
• D) There could be two parallel lines.
• E) The three lines intersect at a single point, but two of the lines are the same and the third one crosses them.

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Definitions:

Periodic FIFO

Periodic FIFO (First-In, First-Out) is an inventory costing method used to calculate the cost of goods sold, assuming that the oldest inventory items are sold first.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated by adding new purchases to the beginning inventory and subtracting the cost of goods sold.

Inventory Costing

The process of assigning costs to inventory items and determining the cost of goods sold.

Understated

Describes a situation where figures or estimates are reported lower than they actually are, leading to inaccuracies in financial or data reporting.