What Does It Mean If Something Has a Probability of 1

question 41

Multiple Choice

What does it mean if something has a probability of 1?

• A)It is very unlikely to occur.
• B)It is very likely to occur.
• C)It must occur.
• D)It cannot occur.
• E)We have no information about whether or not it will occur.

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Definitions:

Percent Change

A mathematical calculation that indicates the degree of change over time, expressed as a percentage.

Fees Earned

Revenue recognized by a company for services provided to clients, recorded as earned income on the income statement.

Account Group

A categorization of accounts in financial reporting, often organized by similarity or function within the general ledger.

Revenue

The total income generated by a company from its business activities, such as sales of goods or services, before any expenses are deducted.