Solve the Problem. -The Table Below Shows the Result of a Polygraph Test

question 182

Multiple Choice

Solve the problem.
-The table below shows the result of a polygraph test conducted on 2000 college students. Students were asked whether they had ever cheated on a test. All of them denied having cheated. Use the
Table to answer the question. What percentage of those that were found to be truthful were actually lying ?

• A)9.6%
• B)11.1%
• C)67.4%
• D)0.6%

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Definitions:

Long-Term Contracts

Agreements that extend over a long period, often used in industries like construction or supply services, specifying performance obligations and payment terms.

Percentage-Of-Completion Method

An accounting method used to recognize revenue and expenses of long-term projects proportionally to the degree of completion.

Revenue Recognition

Guidelines that dictate when a company can report income, crucial for timely and fair financial reporting.

Completed Contract Method

An accounting technique used to recognize revenue and expenses of long-term contracts only after the project is completed.