Flip a Coin Twice

question 107

Multiple Choice

Flip a coin twice. Create the sample space of possible outcomes.

• A) {HT, TH}
• B) {HH, HT, TH, TT}
• C) {HH, HT, TT}
• D) {HH, TT, HT, HT}

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Definitions:

Reversing Entries

These are accounting journal entries that reverse a previous entry, usually made at the beginning of a new accounting period to simplify record-keeping.

Work Sheet

An informal document used by accountants and auditors for preparing financial statements and ensuring the correctness of accounts.

Post-Closing Trial Balance

A listing of all accounts and their balances after closing entries are made, serving as a check to ensure that debits equal credits.

Accounts Receivable

Money owed to a company by its customers for goods or services delivered but not yet paid for.