One of the Disadvantages of Simulation Is That It

question 74

Multiple Choice

One of the disadvantages of simulation is that it:

• A) does not allow for very complex problem solutions.
• B) is not very flexible.
• C) may be very time-consuming to develop.
• D) is very limited in the type of probability distributions that can be used.
• E) interferes with the production system while the program is being run.

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Definitions:

Economic Resources Measurement Basis

An accounting principle that focuses on the valuation and reporting of an entity's assets based on their current economic values rather than historical cost.

Modified Accrual Accounting

This accounting method recognizes revenues when they become available and measurable and expenses when incurred, blending elements of both cash and accrual accounting.

Accrual Accounting

An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is received or paid.

Proprietary Fund Types

Types of funds used by governmental entities to account for activities similar to those found in the private sector, where the intent is to recover costs through user charges.