The Probability of a Certain Event Occurring Is Defined As

question 12

Multiple Choice

The probability of a certain event occurring is defined as: P = number of specific events/total number of events. If an event happens one out of every two times its probability is _.

• A) 100%
• B) 25%
• C) 50%
• D) 10%

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Definitions:

Operating Leases

An agreement that allows for the use of an asset but does not grant ownership rights of the asset to the lessee.

Loss Contingency

A potential financial liability that may occur depending on the outcome of a future event.

IFRS

International Financial Reporting Standards, a set of global accounting standards developed by the International Accounting Standards Board.

U.S. GAAP

Generally Accepted Accounting Principles in the United States, a common set of accounting rules and standards for financial reporting.