I an Experiment Is an Activity That Is Either Observed

question 75

Multiple Choice

i. An experiment is an activity that is either observed or measured. ii. If an experiment, such as a die-tossing experiment, has a set of events that includes every possible outcome, the set of events is called collectively exhaustive.
iii. The combination formula is: n!/(n - r) !

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and, (ii) are correct statements but not (iii).
• C) (i) and, (iii) are correct statements but not (ii).
• D) (ii) and, (iii) are correct statements but not (i).
• E) (i), (ii) and (iii) are all false statements.

---

Definitions:

Financing Activities

Activities that result in changes in the size and composition of the equity capital and borrowings of an entity, typically reported in the cash flow statement.

Cash Basis

An accounting method where revenues are recognized when cash is received, and expenses are recognized when cash is paid.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of materials and labor directly tied to product creation.

Operating Activities

Transactions and events related to the core business functions, including revenue and expense activities that affect net income on the income statement.