In a Poll, Respondents Were Asked Whether They Had Ever

question 157

Multiple Choice

In a poll, respondents were asked whether they had ever been in a car accident. 353 respondents indicated that they had been in a car accident and 499 respondents said that they had not been in a car accident. If one of these respondents is randomly selected, what is the probability of getting someone who has been in a car accident? Round to the nearest thousandth, if necessary.

• A) 0.707
• B) 0.586
• C) 0.003
• D) 0.414

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Definitions:

Support Department Costs

Expenses that are not directly tied to the production of goods or services but are necessary for supporting the operations of a business, like IT or HR departments.

Direct Method

A way of presenting the cash flow statement where major classes of gross cash receipts and payments are disclosed, offering a more straightforward view of cash flow from operating activities.

Cafeteria Department Costs

Expenses associated with operating a company's cafeteria, including food, labor, and overhead costs.

Sequential Method

A procedure in cost accounting for allocating service department costs to producing departments in a specific order.