UBS Television Company Is Considering Bids Submitted by Seven Different

question 133

Short Answer

UBS Television Company is considering bids submitted by seven different firms for three different contracts. In how many ways can the contracts be awarded among these firms if no firm is to receive more than two contracts?
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__________ ways

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Definitions:

Adjusting Journal Entry

An entry made in accounting records at the end of an accounting period to allocate income and expenditure to the correct period.

Insurance Premium

The amount of money an individual or business pays for an insurance policy, which provides financial protection against losses.

Accrual

An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is received or paid.

Crediting Wages Payable

The accounting action of acknowledging that a company owes wages to its employees, which decreases the wages payable account.