Which of the Following Statements Regarding the Development of Models

question 96

Multiple Choice

Which of the following statements regarding the development of models by scientists is true?

• A)all models cannot incorporate all the relevant factors affecting a phenomenon because some factors are either unknown or cannot be accurately represented.
• B)complex systems involve so many variables that the interactions among them cannot be fully understood and incorporated into models.
• C)most scientists believe that because systems cannot be modelled with 100 percent accuracy,models can never be perfect representations of reality.
• D)a model is better than the assumptions and accuracy of information upon which it is based.
• E)models work exactly as the real world systems they represent.

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Definitions:

Work In Process Inventory

The account on the balance sheet representing the cost of the incomplete goods that are still in the process of production.

Equivalent Units

A concept in cost accounting used to allocate costs to partially completed goods, converting them into the amount of finished goods units they represent.

Equivalent Units

A concept in cost accounting used to apportion costs to partially completed goods, expressed in terms of fully completed units.

Direct Labor

The payment for labor of employees directly involved in the generation of goods or the provision of services.