Determine the Probability That a 3 Will Appear Twice,if a Fair

question 147

Multiple Choice

Determine the probability that a 3 will appear twice,if a fair die is rolled 10 times.

• A).5010
• B).2907
• C).2318
• D).0065

Describe the principle of conservatism in accounting.

Understand the conditions under which companies can change accounting methods.

Comprehend the benefits and criticisms of fair value accounting.

Identify the origin and purpose of accounting standards codification.

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Definitions:

Monopolies

Market situations in which a single supplier dominates the supply of a good or service, with no close substitutes.

Demand Curve

An illustrated chart depicting the correlation between a product's price and the amount of it consumers want to buy at that price level.

Marginal Cost

The spending necessary to produce an extra unit of a product or service.

Intellectual Property

Legal rights that result from intellectual activity in the industrial, scientific, literary, and artistic fields.