Assume Your Friend Just Took an Exam Made Up of 20

question 102

Multiple Choice

Assume your friend just took an exam made up of 20 true/false questions. Further assume that your friend had no knowledge relevant to the questions, and consequently just guessed the answer to each question. What is the probability he will get a B, if the B range is 80-89%?

• A) 0.0059
• B) 0.0057
• C) 0.0046
• D) 0.0011

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Definitions:

Double-Declining-Balance Depreciation

A method of accelerated depreciation in which an asset's book value is reduced at double the rate of its straight-line depreciation.

Retrospective Approach

The retrospective approach in accounting involves restating past financial statements as if a new accounting policy had been in effect in those periods, to provide consistency in financial reporting.

Depreciation Rate

The percentage or method used annually to allocate the cost of a tangible asset over its useful life, reflecting its consumption, wear and tear, or obsolescence.

Salvage Value

The estimated residual value of an asset after the asset has reached the end of its useful life.