This question consists of ten items that represent descriptions or definitions of the various elements of the fasb's statements of financial accounting concepts.
select the best answer for each item from the terms provided. a term may be used once, more than once, or not at all.
a. recognition
b. comprehensive income
c. faithful representation
d. revenues
e. predictive value
f. comparability
g. gains
h. net income
i. earnings
j. realization
k. replacement cost
l. market value
concept statement definitions:
1. component of relevance.
2. increases in net assets from incidental or peripheral transactions affecting an entity.
3. the process of converting noncash resources and rights into cash or claims to cash.
4. enhancing qualitative characteristic of relevance and faithful representation.
5. the process of formally recording an item in the financial statements of an entity after it has met existing criteria and been subject to cost-benefit constraints and materiality thresholds.
6. all changes in net assets of an entity during a period except those resulting from investments by owners and distributions to owners.
7. inflows or other enhancements of assets of an entity or settlements of its liabilities from delivering or producing goods, rendering services, or other activities that constitute the entity’s ongoing operations.
8. the amount of cash, or its equivalent, that could be obtained by selling an asset in orderly liquidation.
9. the quality of information that users to increase the likelihood of correctly forecasting the outcome of past or present events.
10. a performance measure concerned primarily with cash-to- cash cycles.

Imagine us is a startup that offers high definition 3d prenatal ultrasounds for high-end customers. the service process includes four activities that are conducted in the sequence described below. (the time required for each activity is shown in parentheses): activity 1: welcome a patient and explain the procedure. (20 minutes)activity 2: prep the patient (e.g., show them to the room, apply ultrasound gel). (17 minutes) (*your id number represents the amount of time needed to complete this task)activity 3: take images. (5 minutes)activity 4: discuss diagnostic with patient. (20 minutes)at each location there are employees (servers) s1, s2, and s3. the assignment of tasks to servers is the following: s1 does activities 1 and 2.s2 does activity 3.s3 does activity 4.a. what is the capacity of this process (in customers per hour)? b. suppose 3 patients arrive every hour on average. ignoring any “start of day” or “end of day” effects, what are the utilizations of all three servers (%)? c. suppose each activity can be done by any server and any server can do any set of activities. however, each activity is done by only one server. for example, a possible assignment includes: s1 does activity 1, s2 does activity 2, and s3 does activities 3 and 4. of course, the original assignment of servers to activities is also feasible. what is the maximum capacity of the process (in customers per hour)? d. now consider the capacity measures in (c) and (a), what is the percentage change? why can you improve capacity without using additional resources? (there is no free lunch, right? )note: for all hw assignments, show your process of getting the results. only providing the final answers is not acceptable and will get 0%. if necessary, use a separate sheet of paper to show your work.