If One Card Is Drawn from a Standard 52 Card

question 144

Multiple Choice

If one card is drawn from a standard 52 card playing deck, determine the probability of getting a jack, a three, aclub or a diamond. Round to the nearest hundredth.

• A) 0.58
• B) 0.65
• C) 0.50
• D) 0.15

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Definitions:

Net Income

The amount of money a firm earns after deducting all its expenses, taxes, and costs from its total revenue, indicating its profitability during a specific period.

Inventory On Credit

This refers to inventory purchased by a company for which payment is deferred to a later date, typically impacting the accounts payable.

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue, also known as net earnings or net profit.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting liabilities, representing the owners' share.