If the Odds Against an Event Are 3 to 1

question 48

Multiple Choice

If the odds against an event are 3 to 1, the probability of its occurrence is

• A) .17
• B) .05
• C) .01
• D) .25

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Definitions:

Receivables Collection

The process of managing and collecting payments from customers who have purchased goods or services on credit.

Trust Receipt

A document issued by a bank to a buyer who has obtained a loan to purchase goods, wherein the buyer agrees to hold the goods in trust for the bank until the loan is repaid.

Short-Term Financing

Funding obtained for a period typically less than a year, used to cover immediate financial needs of a business.

Acquisition Of Inventory

The process a business undertakes to obtain supplies or products that it intends to sell to its customers.