An Urn Contains 12 Balls, Five of Which Are Red

question 145

Multiple Choice

An urn contains 12 balls, five of which are red. The selection of a red ball is desired and is therefore considered to be a success. If a person draws three balls from the urn, what is the probability of two successes?

• A) 0.1591
• B) 0.3182
• C) 0.6810
• D) 0.8409

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Definitions:

Internal Control Elements

Components of a framework designed to ensure the effectiveness and efficiency of operations, reliable financial reporting, and compliance with laws and regulations.

Petty Cash Fund

A small amount of cash kept on hand for minor, immediate expenses.

Cash Controls

Financial procedures and policies that are implemented to manage and monitor cash transactions, to prevent theft, fraud, or errors.

FASB Controls

Guidelines and standards established by the Financial Accounting Standards Board (FASB) to govern the financial reporting and accounting practices of companies in the United States.