Special-Purpose Simulation Software Is Specially Built to Run Specific Applications

question 61

True/False

Special-purpose simulation software is specially built to run specific applications and may have provisions in manufacturing models to allow for specifying the number of workcenters, their descriptions, arrival rates, and even batch sizes.

---

Definitions:

Credit Terms

The conditions under which credit will be extended to a borrower, including repayment schedule, interest rate, and the duration of the loan.

General Journal Entries

A record of financial transactions in the order they occur.

Invoice Price

Invoice Price is the price listed on an invoice for purchased goods or services, including the base cost and added fees or taxes before any discounts.

General Journal Entry

An accounting record where transactions are initially recorded, detailing the accounts that are affected and the amounts, before the details are posted to the appropriate ledgers.