The First Card Selected from a Standard 52-Card Deck Was

question 40

Multiple Choice

The first card selected from a standard 52-card deck was a king. If it is returned to the deck,what is the probability that a king will be drawn on the second selection?

• A)1/4 or 0.25
• B)1/13 or 0.077
• C)12/13 or 0.923
• D)1/3 or 0.33

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Definitions:

Contributed Capital

The total value of all monetary and non-monetary assets that shareholders have provided to a company in exchange for shares of stock.

Cost Method

An accounting approach for investments, where the investment is recorded at its original purchase cost without subsequent change for market value fluctuations.

Treasury Stock Transactions

The buying, selling, or re-issuance of a company's own shares that were previously outstanding but were repurchased.

Additional Paid-in Capital

The amount of capital that is paid by investors above the par value of the stock during equity issuance.