The probability of A, given B, must be at least as large as the probability of the intersection of A and B
Indicate whether the statement is true or false
TRUE
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The going concern assumption:
A. Means that we can express transactions and events in monetary, or money, units. B. Prescribes that a company record the expenses it incurred to generate the revenue reported. C. Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold. D. Presumes that the life of a company can be divided into time periods, such as months and years, and that useful reports can be prepared for those periods. E. Means that a business is accounted for separately from other business entities, including its owner.
Examples of pleasing products include ________
A) cigarettes and junk food B) dental services and medications C) seat belts and air bags D) fruits and vegetables E) bicycle helmets and elbow pads
In ____________________their market preferences and desires have not been met by existing products and services for many years, and the new global brands are greeted with welcoming arms.
a. New markets b. Mature markets c. Emerging markets d. Global markets
The business income and extra expense coverage form covers loss of business income and continuing normal operating expenses. How is business income (revenue) defined?
A) total sales B) total sales less cost of goods sold C) pre-tax net profit D) after-tax net income