Affirmative Action Commitments by Many Organizations Have Led to an Increase

question 15

Multiple Choice

Affirmative action commitments by many organizations have led to an increase in the number of women in executive positions. Satellite Office Systems has vacancies for two executives that it will fill from among four women and six men. What is the probability that at least one woman is selected?

• A)8/15
• B)3/5
• C)2/3
• D)3/4

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Definitions:

Depreciation Expense

The systematic allocation of the cost of a tangible asset over its useful life, reflecting wear and tear, obsolescence, or age.

Book Value

The net value of a company's assets found on its balance sheet, calculated as total assets minus intangible assets (patents, copyrights) and liabilities.

Prepaid Insurance

Prepaid insurance refers to insurance premiums that have been paid in advance and are recorded as a current asset on the company's balance sheet until the period the insurance coverage relates to occurs.

Adjusting Entry

An adjusting entry is made in the accounting records at the end of a period to allocate income and expenditures to the appropriate period.