In the past the FASB has been criticized for having a ______ approach to standards.

When the economic revival begins, companies will tend to:

This is an example of ______.

Liquidity affects:
I). brokerage commission.
II). bid-ask spread.
III). price impact.

The government has been trying to decide whether or not to purchase any of the new, advanced missiles it has developed. One of the arguments in favor of purchasing the missiles is that so much money has been spent on their development that it would be a waste of money not to buy any. What is the major problem with this argument?