Explain continuous variables with an example
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Variables that change continuously over time are called continuous variables, and are also called state variables. An oil refinery model is a perfect model for continuous variables. The amount of oil moving between various stages of production is clearly a continuous variable.
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Hackett, Inc had property tax payable of $75,000 and $110,000 at the end of 2016 and 2017 respectively. During 2017, Hackett recorded $750,000 in property tax expense on its income statement. Cash outflows for property tax during 2017 were ________
A) $715,000 B) $750,000 C) $785,000 D) $640,000
Who created Fannie Mae?
a. Shareholders b. The federal government c. The Federal National Insurance Company d. None of the above