Some Events Cannot Occur Together Because the Occurrence of One

question 37

Multiple Choice

Some events cannot occur together because the occurrence of one event makes the occurrence of the second event impossible.Such events are called

• A)dependent events.
• B)independent events.
• C)conditional events.
• D)mutually exclusive events.

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Definitions:

Net Position

Net Position represents the difference between an entity's assets and liabilities, indicating the financial health or net worth of an entity.

Fund Balance

The difference between the assets and liabilities in a governmental fund, representing the net assets available for spending.

Statement of Activities

A financial report mostly used by non-profit organizations, displaying revenues, expenses, and changes in net assets for a specific period.