The Table Below Shows the Soft Drinks Preferences of People

question 45

Multiple Choice

The table below shows the soft drinks preferences of people in three age groups The table below shows the soft drinks preferences of people in three age groups.
$\begin{array}{l|ccc} & \text { Cola } & \text { Root beer } & \text { Lemon-lime } \\\hline \text { Under 21 years of age } & 40 & 25 & 20 \\\text { Between 21 and 40 } & 35 & 20 & 30 \\\text { Over 40 years of age } & 20 & 30 & 35\end{array}$

If one of the 255 subjects is randomly selected, find the probability (in fractional form) that the person is over 40 and drinks cola.

• A) \(\frac { 4 } { 19 }\)
• B) \(\frac { 4 } { 17 }\)
• C) \(\frac { 4 } { 51 }\)
• D) None are correct.

Recognize the difference between cash and accrual basis of accounting and their implications on financial statements.

Identify the purpose and timing of revenue recognition in accordance with accrual accounting.

Understand the requirements and justifications for making adjusting entries in the accounting cycle.

Comprehend the effects of adjusting entries on reporting expenses and revenues.

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