Sometimes, Data Has Two Values That Have the Highest and Equal

question 71

Multiple Choice

Sometimes, data has two values that have the highest and equal frequencies. In this case, the distribution of the data can best be summarized as

• A) symmetric
• B) bimodal (having two modes)
• C) positively skewed
• D) negatively skewed

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Definitions:

Bank Reconciliation

The process of matching and comparing figures from accounting records against those presented on a bank statement to ensure they are consistent and accurate.

Outstanding Checks

Refer to checks that have been written and recorded in the issuer's accounting records but have not yet cleared or been deducted from the bank account balance.

Internal Control

Processes and practices implemented to safeguard a company's assets, ensure financial reporting accuracy, and comply with regulations.

Customer's Ledger

A detailed record keeping of all transactions between a business and its customers, often part of the accounts receivable.