Dividing the Number of Rain Days in a Year by the Total

question 52

Multiple Choice

Dividing the number of rain days in a year by the total number of days in a year yields the ____.

• A)probability of rainfall
• B)rain ratio
• C)rain deficit
• D)rain distribution

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Definitions:

GAAP

Generally Accepted Accounting Principles refer to the commonly applied rules and standards in financial reporting and accounting.

GAAP

Generally Accepted Accounting Principles (GAAP) are a set of rules and standards for financial reporting that companies in the U.S. are required to follow to ensure consistency and comparability among financial statements.

IFRS

A collection of accounting standards established by the International Accounting Standards Board, intended for worldwide application, known as International Financial Reporting Standards.

Cash-Basis Accounting

An accounting method where revenues and expenses are recorded when cash is received or paid, as opposed to when they are incurred.