Which of the Following Statements Is Untrue Regarding a Probability

question 2

Multiple Choice

Which of the following statements is untrue regarding a probability distribution?

• A)it will show all possible outcomes and their probabilities
• B)it can be used to provide an indication of the risk of undertaking a possible course of action.
• C)it will show the average outcome that is expected to occur
• D)it will enable an estimate of the most likely outcome to be derived

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Definitions:

Current Liability

An obligation due to be paid within a year, including accounts payable, short-term loans, and other similar debts.

Notes Payable

Financial obligations represented by promissory notes, where the borrower agrees to pay back a specified sum of money on demand or at a determined future date.

Prepaid Expenses

Expenses paid in advance by a company for goods or services to be received in the future.

Adjusting Process

The procedure used in accounting to record and reconcile expenses and revenues in the appropriate accounting period.