THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 149

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The number of nails in a five-pound box of nails is normally distributed with a mean of 563.3 and a standard deviation of 33.2.
-What is the probability that there are between 525 and 575 nails in a randomly-selected five-pound box of nails?

• A)0.5117
• B)0.4883
• C)0.5526
• D)0.4474

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Definitions:

Petty Cash Fund

A small amount of cash on hand used for minor or incidental expenses within a business.

Custodian

An individual or entity responsible for safeguarding assets, such as cash or securities, ensuring their safekeeping and proper use.

Journal Entry

A record in the accounting journal that represents a transaction and includes debits and credits.

Cash Register Overages

The situation where the amount of cash in a cash register exceeds the expected amount based on sales records.