Two Events with Nonzero Probabilities

question 68

Multiple Choice

Two events with nonzero probabilities

• A)can be both mutually exclusive and independent
• B)cannot be both mutually exclusive and independent
• C)are always mutually exclusive
• D)cannot be both mutually exclusive and independent and are always mutually exclusive

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Definitions:

Notes Payable

A written agreement where a borrower agrees to pay back a lender a specific amount of money, often with interest, by a certain date, recorded as a liability in financial statements.

Interest Expense

The cost incurred by an entity for borrowed funds, often reported on the income statement.

Annual Instalment

Regular payments made once a year to pay off a debt or an obligation.

Financial Liability

A financial liability refers to the obligation to pay money to another party, typically arising from borrowing money, purchasing goods or services on credit, or other financial agreements.