Which One of the Following Is an Economic Obligation for a Business

question 132

Multiple Choice

Which one of the following is an economic obligation for a business entity?

• A)Salaries paid to employees for services rendered
• B)Amounts owed to creditors
• C)Materials used in manufacturing products
• D)Payment of rent for the next year

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Definitions:

Prior Probability

The probability of an event or hypothesis before new evidence or data is taken into account.

Joint Probability

The probability that two or more events happen at the same time. It's calculated by the intersection of the events' probabilities.

Marginal Probability

The probability of an event occurring, regardless of the possible outcomes of other related events.

Posterior Probability

The probability of assigning events or hypotheses after taking into consideration relevant evidence or background information.