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Historically, 2 percent of the stray dogs in Southfield are unlicensed. On a randomly chosen day, the Southfield city animal control officer picks up seven stray dogs. What is the probability that fewer than two will be unlicensed?
Asset
An economic resource owned or controlled by an individual or business, expected to provide future benefits.
Liability
Any financial debt or obligation that a company owes, which must be settled over time through the transfer of economic benefits including money, goods, or services.
Owner's Equity
The residual interest in the assets of a business after deducting liabilities, representing the ownership interest of shareholders in a company.
Balance Sheet
A financial statement that presents a company’s financial position, showing assets, liabilities, and equity at a specific point in time.
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