When Two or More Events Can Occur Concurrently It Is

question 97

Multiple Choice

When two or more events can occur concurrently it is called

• A) conditional probability.
• B) empirical probability.
• C) joint probability.
• D) a tree diagram.

Identify and describe the impact of using different methods for recognizing expenses and revenues, specifically the matching principle and materiality constraint.

Understand the process and accounting treatment for the factoring of receivables.

Describe various measures and ratios to assess the effectiveness of a company’s credit and collection policies.

Understand the implications and accounting treatments of credit card sales for businesses.

---

Definitions:

Signal-Detection Theory

A psychological theory that explains how individuals distinguish between informative signals and noise in the environment under conditions of uncertainty.

Trichromatic Theory

A theory of color vision that proposes three types of color receptor cells in the eye, each sensitive to red, blue, or green.

Opponent-Process Theory

A psychological and neurological model that explains how the perception of colors is controlled by the operation of opposing neural systems.

Frequency Theory

A theory in auditory perception that suggests the rate of nerve impulses traveling up the auditory nerve matches the frequency of a tone, enabling us to detect its pitch.