A Subjective Definition of Probability Is

question 26

Multiple Choice

A subjective definition of probability is:

• A) a weighted average of different peoples' degrees of certainty of an event's occurring.
• B) a theoretical probability distribution.
• C) a person's degree of certainty of an event's occurring.
• D) an expected value of a particular outcome.
• E) the number of occurrences of an event in a large number of repetitions of an experiment.

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Definitions:

Real Account

Another term for permanent account in accounting, referring to accounts that are not closed at the end of the accounting period and carry their ending balance into the next period.

Nominal Account

A nominal account is a temporary financial account that shows the incomes, gains, expenses, or losses over an accounting period, and is reset to zero at the beginning of each new period.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in net income or loss.

Balance Sheet

A statement of finances that shows the assets, liabilities, and equity of shareholders of a corporation at a certain moment.