Suppose a and B Are Mutually Exclusive Events Where P(A)=

question 4

True/False

Suppose A and B are mutually exclusive events where P(A)= 0.2 and P(B)= 0.5,then P(A or B)= 0.70.

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Definitions:

Public Sector Accounting Board

A body responsible for setting accounting standards for governmental and other public sector entities.

Tax Revenue

Income that the government receives from taxpayers, including both individuals and businesses, used to fund public services and obligations.

Tax Concessions

Special exemptions, deductions, or credits provided in the tax code to encourage certain business activities or investments.

Qualitative Characteristics

The attributes that make the information provided in financial statements useful to users, such as relevance and reliability.