Employees of a Local University Have Been Classified According to Gender

question 119

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 a member of the faculty?

• A) 0.333
• B) 0.600
• C) 0.550
• D) 0.400
• E) 0.917

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Definitions:

Unpaid Voucher File

A file or record keeping system that tracks invoices and vouchers that have not yet been paid by the company.

Sales Discounts

Reductions in the price of goods sold, offered to customers as an incentive to either prompt payment or increase sales volume.

Vouchers Payable

Liabilities or debts owed by a company for purchases made on credit, documented by vouchers.

Gross Method

An accounting practice where purchases are recorded at their full invoice amount without deducting any purchase discounts.