Under IGAAP, If an Estimate Is Being Developed for a Large

question 117

True/False

Under iGAAP, if an estimate is being developed for a large number of items with varied outcomes, then the expected cash flow approach is used.

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Definitions:

Actuator

A device used to convert a control signal into mechanical motion.

Discrete Output

Pertains to an output signal in automation systems that has only two states, commonly referred to as On or Off.

PLC

Programmable Logic Controller, an industrial digital computer which has been ruggedized and adapted for the control of manufacturing processes.

Specific Input Or Output

A particular signal or data point received (input) by a system or produced (output) by a system, designated for a unique function or process.