Affirmative Action Commitments by Industrial Organizations Have Led to an Increase

question 65

Multiple Choice

Affirmative action commitments by industrial organizations have led to an increase in the number of
Women in executive positions. Satellite Office Systems has vacancies for two executives that it will
fill from among four women and six men.
This is an example of what type of probability distribution?

• A) Continuous probability distribution
• B) Poisson probability distribution
• C) Binomial probability distribution
• D) Hypergeometric probability distribution

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Definitions:

Income Summary

An account used during the closing process to summarize the year's revenues and expenses before determining and transferring the period's net income or loss to owner's equity.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.

Income Summary

Income summary is an account where revenues and expenses are accumulated to calculate net income or loss for a specific period before transferring to the capital account.