Determine Whether the Following Is a Probability Model

question 58

Multiple Choice

Determine whether the following is a probability model.
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• A)Yes
• B)No

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Definitions:

General Journal

A comprehensive accounting record of all transactions, listed in chronological order.

Withdrawal of Cash

The act of taking money out from a business by the owners for personal use, not related to business expenses.

Cash Receipts Journal

A financial journal that records all cash coming into the business, providing a record of income from various sources.

Cash Payments Journal

A business ledger documenting every cash disbursement, covering costs, acquisition of assets, and settlement of debts.