Use the Following Information and Venn Diagram to Answer Questions

question 12

Multiple Choice

Use the following information and Venn diagram to answer questions . A survey of 64 members of a UFO
club revealed the following information:
45 believe that we never landed on the moon
49 believe that they have been abducted by space aliens
42 believe both of these things
The Venn diagram below helps depict these data.
Let U be the set of people who were surveyed. Let E be the set of people who believe that we never landed on the
moon. Let A be the set of people who believe that they have been abducted by space aliens. Then we have the
following Venn diagram showing the relationship between sets E, A and U:
-How many believe that we never landed on the moon but that they have not been abducted by space aliens?

• A)3
• B)7
• C)12
• D)42

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Definitions:

Net Markups

The amount by which the selling price of an item exceeds its cost, after accounting for discounts, allowances, and returns.

Net Markdowns

The total reduction in selling price of inventory, subtracting markdown reversals, to adjust for decrease in market value or to stimulate sales.

Employee Discounts

Reduced prices offered to employees by their employer as a part of their employment benefits or incentives.

Periodic Inventory System

An inventory accounting system where updates to inventory records are made on a periodic basis, not continuously.