Hubble Construction Company Has Submitted a Bid on a State

question 59

Multiple Choice

Hubble Construction Company has submitted a bid on a state government project that is to be funded by the federal government's stimulus money in Arizona. The price of the bid was predetermined in the bid specifications. The contract is to be awarded on the basis of a blind drawing from those who have bid. Five other companies have also submitted bids. What is the probability of the Hubble Construction Company winning the bid?

• A) 0.2778
• B) 0.1667
• C) 0.6944
• D) 0.0278

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Definitions:

Current Liabilities

Financial obligations a company is expected to pay within one year, including accounts payable, short-term loans, and accrued expenses.

Asset Subsections

Categorizations within a company's assets on the balance sheet to provide detailed financial information.

Current Assets

Assets that are expected to be converted into cash, sold, or used up within one year or within the business's operating cycle, whichever is longer.

Revenue Accounts

Accounts in the general ledger that record the income generated from the sale of goods or services.