Which of the Following Scenarios Is an Example of a Binomial

question 25

Multiple Choice

Which of the following scenarios is an example of a binomial experiment?

• A) A shopping mall is interested in the income level of its customers and is taking a survey to gather information.
• B) A business firm introducing a new product wants to know how many purchases its clients will make each year.
• C) A sociologist is researching an area in an effort to determine the proportion of households with a male head of household.
• D) A study is concerned with the average number of hours worked by high school students.

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Definitions:

Expense Recognition

An accounting principle that dictates the conditions under which an expense is recognized and recorded in financial statements.

Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Liability

A financial obligation or amount owed by a company to another party.

Asset

An economic resource that is owned or controlled by an individual or entity, expected to provide future benefits.