Paper Clip Company Sells Office Supplies

question 83

Multiple Choice

Paper Clip Company sells office supplies.The following information summarizes the company's operating activities for the year:

What are total operating expenses?

• A)$33,000
• B)$19,500
• C)$23,500
• D)$23,000

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Definitions:

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Independent Events

Two or more events where the occurrence or outcome of one event does not affect the occurrence or outcome of the other.

P(A And B)

The probability of both event A and event B occurring together.

P(A Or B)

The probability that either event A or event B occurs or both events occur together, a fundamental concept in probability theory.