Given that event E has a probability of .25, the probability of the complement of event E _____
a. cannot be determined with the above information
b. can have any value between 0 and 1
c. must be .75
d. is .25
c
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A company purchased a new delivery van at a cost of $45,000 on July 1. The delivery van is estimated to have a useful life of 6 years and a salvage value of $3,000. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31?
A. $4,000. B. $3,500. C. $7,000. D. $3,250. E. $6,500.
Select the correct statement regarding opportunity costs.
A. Opportunity costs need not be considered in decision making. B. Opportunity costs represent sunk costs. C. Opportunity costs are not recorded in a firm's financial accounting records. D. All of the above.
Which of the following budgets are prepared at the beginning of the period for one set level of activity?
a. Revenue variance budgets b. Flexible budgets c. Static budgets d. Activity variance budgets
When high ethical principles are deeply ingrained in the corporate culture of a company, culture can function as a powerful mechanism for all of the following EXCEPT
A. gaining employee buy-in to the company's corporate values. B. communicating ethical behavioral norms. C. gaining employee buy-in to the company's business principles. D. boosting short-termism. E. gaining employee buy-in to the company's moral standards.