Scenario: Two Friends Have Agreed on a Unique Strategy to Decide

question 91

Multiple Choice

Scenario: Two friends have agreed on a unique strategy to decide who will complete his homework first and help the other. They have agreed to simultaneously display one of three different symbols using their hands-a rock, paper, or scissors. They have decided to follow simple rules to determine the winner of the game: rock breaks scissors, scissors cut paper, and paper covers rock. If both of them hold out the same symbol, the game is a tie.
-Refer to the scenario above.This is an example of ________.

• A) a zero-sum game
• B) a variable-sum game
• C) an extensive-form game
• D) the prisoners' dilemma

---

Definitions:

Interest Accrued

The accumulation of interest on a loan or bond that has been earned but not yet paid.

Periodic Inventory Method

An inventory accounting method where physical counts are used to determine the cost of goods sold and ending inventory at specific intervals.

Petty Cash

A small amount of cash on hand used for covering minor expenses in an organization.

Periodic Inventory Method

An accounting method where inventory is updated and the cost of goods sold (COGS) is calculated at the end of an accounting period, instead of recording inventory transactions as they happen.