Use the at Least Once Rule to Find the Indicated

question 195

Multiple Choice

Use the at least once rule to find the indicated probability.
-Find the probability of at least one club when you draw cards from a standard deck 17 times; assume that you replace the card each time you draw , so there are always 52 cards to draw from.

• A)0.003
• B)0.744
• C)0.992
• D)0.008

Understand the principles and applications of the equity method of accounting.

Identify the circumstances under which the equity method of accounting is appropriate.

Calculate the investment account changes due to investee's net income, dividends, and excess amortization.

Understand how to account for changes in ownership percentages and their impact on the equity method.

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Definitions:

Limited Partnership

A business structure where one or more partners have limited liabilities, and at least one partner has unlimited liability.

Long-term Businesses

Companies or enterprises engaged in operations with the aim or expectation of continuing for many years into the future.

LLLP

A limited liability limited partnership, a type of partnership where some partners have limited liability (similar to limited partners in an LP) while also having the ability to participate in management.

General Partner

A general partner is an owner of a partnership who has unlimited liability and is typically involved in the day-to-day management of the business.