If you are considering trading in a used car when you purchase your new one, it is best to
A) tell the dealer right away so that your trade-in credit can be calculated against the purchase of your new car.
B) not trade the car in, but rather sell it yourself to someone else.
C) make the trade-in deal a separate transaction from the new car deal.
D) not be too concerned about the value given, since dealers are required to give you at least blue book value.
Answer: C
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Which of the following is true about a probability distribution?
A) The sum of all possible outcomes must not equal 1. B) The representation must be graphed, not tabular or algebraic. C) The probability of each outcome must be between 0 and 1, inclusive. D) The outcomes do not need to be mutually exclusive.
Which type of account is cost of goods sold?
a. An asset account b. A liability account c. An expense account d. An income account