While a Binomial Distribution Describes a Count Data That Can

question 76

Short Answer

While a binomial distribution describes a count data that can be classified into one of two mutually exclusive categories,a ______________________ distribution describes count data that is classified into more than two mutually exclusive categories.

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Definitions:

Income Taxes Payable

Income taxes payable is a liability account on a company's balance sheet representing the amount of income taxes that the company owes to the government but has not yet paid.

Discount on Bonds Payable

The difference between the face value of a bond and the lower price at which it is sold, representing additional interest expense to the issuer over the bond's life.

Interest Expense

Costs incurred by an entity for borrowed funds, which are recognized on the income statement.

Fixed Asset

Long-term tangible assets, such as machinery and buildings, used in the operation of a business, not expected to be consumed or converted into cash in the short term.