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Job Applicants Narrative
Five applicants apply for two jobs. Applicants A and B are male; applicants C, D, and E are female. The personnel officer selects two applicants at random to fill the two jobs.
-A sample space S consists of five simple events with the following probabilities:
P( ) = P(
) = 0.20, P(
) = 0.45, and P(
) = 2P(
).
a. Find the probabilities for simple events and
.
b. Find the probabilities for these two events: A: ,
,
and B:
,
.
c. List the simple events that are in either event A or event B or both.
d. List the simple events that are in both event A and event B.
Retained Earnings
Retained earnings refer to the portion of net income which is retained by the corporation rather than distributed to its owners as dividends.
Closing Entries
Closing entries are journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, preparing the books for the next period.
Closing Entry
A journal entry made at the end of an accounting period to transfer temporary account balances to permanent accounts.
Revenue Accounts
Revenue accounts are those used in accounting to track the income generated by a business from its normal operations.
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