In a Large Metropolitan Area, Past Records Revealed That 30

question 18

Multiple Choice

In a large metropolitan area, past records revealed that 30 percent of all the high school graduates go to college. From 10 graduates selected at random, calculate the probability that none will go to college.

• A) 0.028%
• B) 82%
• C) 28%
• D) 8.2%
• E) 2.8%

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Definitions:

Supplies Account

An account in the general ledger that records the amount spent on supplies that are used in the operation of a business.

General Journal

A ledger where all financial transactions of a business are initially recorded using double-entry bookkeeping.

Purchases Journal

A financial journal used to record all purchases of goods and services on credit.

Return Supplies

Returned goods or materials that were previously purchased, which can reduce the payable amount or be exchanged for credit.