A Sales Representative Makes a Sale at Approximately One-Third of the Businesses

question 54

Multiple Choice

A sales representative makes a sale at approximately one-third of the businesses he calls on.On a given day, he goes to four businesses.What is the probability that he will make a sale at all four businesses?

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Definitions:

Credits

Accounting entries that increase liabilities or equity accounts, or decrease asset accounts.

Personal Equipment

Tangible items owned by an individual for personal use, not for business or commercial purposes.

Cash

Currency and other liquid instruments such as checks and bank deposits that are readily available for use in transactions and other immediate needs.

Normal Credit Balance

The expected balance type for certain accounts in the general ledger, such as liabilities, equity, and revenue accounts.