Use the Following Information to Answer the Questions Below

question 10

Multiple Choice

Use the following information to answer the questions below.
Skin color in a certain species of fish is inherited via a single gene with four different alleles.
-How many different types of gametes would be possible in this system?

• A) 1
• B) 2
• C) 4
• D) 8
• E) 16

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Definitions:

Gross Profit

The difference between revenue and the cost of goods sold before accounting for certain other costs.

Intra-entity Sales

Transactions of goods or services between divisions or units within the same legal entity.

Equity Method

A technique where an investor reflects its share of an associate's or joint venture's profits or losses in its own financial statements, affecting the carrying value of the investment.

Income Recognition

The process of reporting income when it is earned and realized or realizable, according to accounting principles.