Two Events, a and B, Are Mutually Exclusive and Each

question 108

Multiple Choice

Two events, A and B, are mutually exclusive and each has a nonzero probability. If event A is known to occur, the probability of the occurrence of event B is

• A)one
• B)any positive value
• C)zero
• D)any value between 0 to 1

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Definitions:

Gross Profit

The amount by which sales revenue exceeds the cost of goods sold, prior to the subtraction of administrative and other expenses.

Income From Operations

The profit generated from a company's regular, core business operations, excluding any earnings from investments and other non-operational sources.

Operating Expenses

Expenses incurred from the regular activities of a business, such as rent, utilities, and salaries.

Perpetual System

A method of inventory accounting in which the inventory levels are updated in real-time with each sale or purchase.