____________ Utility Is the Probability (Expectancy)of Satisfaction (Utility)for Each Alternative

question 9

Multiple Choice

____________ utility is the probability (expectancy) of satisfaction (utility) for each alternative.

• A)Evaluative alternative
• B)Subjective expected
• C)Anticipated
• D)Rational expected
• E)None of the answers apply.

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Definitions:

Contingent Liability

A potential financial obligation that may occur in the future depending on the outcome of a specific event.

Probable Event

An event that is likely to occur based on current evidence or past experience.

Estimable Amount

A quantifiable sum that can be accurately predicted or approximated in the accounting records.

Interest Calculations

The process of determining the interest payment on a loan or investment, based on the principal, rate, and time.