THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 98

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Let the random variable X follow a normal distribution with a mean of 61.7 and a standard deviation of 5.2.
-What is the value of k such that P(59 < X < k) = 0.54?

• A)65.8
• B)64.6
• C)63.7
• D)66.9

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Definitions:

Balance Sheet Accounts

Accounts reported on the balance sheet, representing the company's assets, liabilities, and equity at a specific point in time.

Direct Write-off Method

An accounting method where bad debts are charged against income at the time they are determined to be uncollectible, rather than being estimated and accounted for in advance.

Allowance for Doubtful Accounts

An estimation of the amount of credit sales that are expected not to be collected, representing a reserve for potential bad debts.

Notes Receivable

Legally enforceable claims for money owed to a business by its customers or clients, typically evidenced by a written promise to pay.