The ________ method is a simulation technique that uses random elements when chance exists in their behavior

For 2016, Val and Pat White, both age 30, filed a joint return. Val earned $45,000 in wages and was covered by his employer's qualified pension plan. Pat was unemployed and received $6,000 in alimony payments for the first 4 months of the year before remarrying. The couple had no other income. Each contributed $5,500 to an IRA account. The allowable IRA deduction on their 2016 joint tax return is

a) $5,750 b) $5,500 c) $11,000 d) $0

For inventoriable costs to become expenses under the matching principle,

a. the product must be expensed based on its percentage-of-completion. b. all accounts payable must be settled. c. the product must be finished and in stock. d. the product to which they attach must be sold.