Which One of the Following Statements Is Not an Assumption

question 24

Multiple Choice

Which one of the following statements is not an assumption of the binomial distribution?

• A) Sampling is with replacement.
• B) The experiment consists of n identical trials.
• C) The probability of success remains constant from trial to trial.
• D) Trials are independent of each other.
• E) Each trial results in one of two mutually exclusive outcomes.

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Definitions:

Lower Of Cost

A principle in accounting that requires inventory to be recorded at either its cost or its market value, whichever is lower.

Replacement Cost

The current cost of replacing an asset with a similar new asset at prevailing market prices.

Cost Flow Method

An accounting technique used to value inventory by determining how costs move through different accounts.

Gross Profit Method

An inventory valuation method estimating the cost of goods sold and ending inventory based on gross margin percentages.