The Probability of Observing the Specific Sequence of Discrete Outcomes

question 33

Multiple Choice

The probability of observing the specific sequence of discrete outcomes is arrived at by applying the:

• A)Bayes' theorem.
• B)multiplication rule of probabilities.
• C)Hypergeometric distribution.
• D)conditional rule of probabilities.

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Definitions:

Debit Portion

The section of a financial transaction that records the increase in assets or decrease in liabilities on the left side of an account.

Credit Portion

Refers to the part of a financial transaction that is recorded as a credit in the accounting records, increasing liabilities or decreasing assets.

Revenue Recognition Principle

An accounting principle that dictates the conditions under which revenue is recognized and determines how revenue is accounted for.

Revenue Account

An account that tracks the income generated from a company's primary operations.