If Scores in a Distribution Are Clustered Towards the Left

question 37

Multiple Choice

If scores in a distribution are clustered towards the left end of the distribution, the distribution is:

• A) negatively skewed.
• B) positively skewed.
• C) not skewed.
• D) irregularly skewed.

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Definitions:

Retail Inventory Method

An accounting method used by retailers to estimate inventory cost by using a consistent markup and grouping similar items.

Cost-To-Retail Ratio

A calculation used in inventory accounting that helps determine the ending inventory value under the retail inventory method, comparing the cost of goods to their retail price.

Ending Inventory

The worth of items available for selling when an accounting period ends, determined by adding the starting inventory to purchases and then subtracting the cost of goods sold.

Lower Of Cost

An accounting principle that dictates that inventory and other assets should be reported at the lower of their historical purchase cost or current market value.