Assume a Soldier Is Selected at Random from the Army

question 30

Multiple Choice

Assume a soldier is selected at random from the Army. Determine whether the events A and B are independent, mutually exclusive, or neither.
A: The soldier is a corporal.
B: The soldier is a colonel

• A)mutually exclusive
• B)neither
• C)independent

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Definitions:

Fair Value

The price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Unrealized Profits

Profits that have occurred on paper due to an asset's increased value but have not yet been cashed in by selling the asset.

Realized Profits

Refers to the gains earned and received from the sale of assets or investments, distinguished from those merely existing on paper.

Intercompany Sales

Transactions involving goods or services exchanged between subsidiaries within the same corporation, often used for internal accounting and tax purposes.