Employees of a Local University Have Been Classified According to Gender

question 117

Multiple Choice

Employees of a local university have been classified according to gender and job type. If an employee is selected at random, what is the probability that the employee is female or works as a member of the faculty?

• A) 0.73
• B) 0.08
• C) 0.33
• D) 0.70
• E) 0.05

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Definitions:

Adjusting Entry

A record finalized at the close of a financial period for assigning earnings and costs to the actual period of occurrence.

Estimated Returns Inventory

An accounting method used to estimate the value of goods that are expected to be returned by customers.

Gross Profit

The difference between sales revenue and the cost of goods sold, before deducting operating expenses, interest, and taxes.

Fiscal Year

A 12-month period used for accounting purposes and planning by organizations, which may not align with the calendar year.