Conditional Outcomes Refer to Those Where the Probability of One

question 42

True/False

Conditional outcomes refer to those where the probability of one outcome is independent of the probability of the occurrence of the second outcome.

---

Definitions:

Investment

The allocation of resources with the expectation of generating an income or profit.

Present Value

The value today of a sum of money or sequence of cash flows expected in the future, calculated using a designated interest rate.

Contingent Liabilities

Possible obligations that might arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more future events.

U.S. GAAP

Generally Accepted Accounting Principles in the United States, a framework of accounting standards, principles, and procedures.