The type of distribution, which describes whether events to be occurred are mutually exclusive or collectively exhaustive can be classified as ____________?
Correct answer: B. probability distribution
- A. mutual distribution
- B. probability distribution
- C. collective distribution
- D. marginal distribution
Explanation
A probability distribution assigns probabilities to possible outcomes, whose events are normally mutually exclusive and collectively exhaustive. The other options are not standard names for this general classification.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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