The Union of Events a and B Is the Event

question 177

True/False

The union of events A and B is the event that occurs when either A or B occurs but not both.

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Definitions:

Contingent Liability

A potential financial obligation that may occur, depending on the outcome of a future event.

Future Event

An occurrence or situation that has not yet happened but is expected or anticipated.

Accounts Payable

Liabilities of a business that are owed to creditors for goods and services purchased on credit.

Estimated

An approximate calculation or judgment regarding a number, value, or size based on available data, often used in planning and forecasting.