If You Calculate the Average of Individual Income and Find

question 59

Multiple Choice

If you calculate the average of individual income and find no outliers,which measure of central tendency should you use?

• A)mode
• B)median
• C)mean
• D)other

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Definitions:

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered but not yet paid for.

Income Statement

A financial statement that shows a company's revenues, expenses, and profit or loss over a specific period of time.

Cash Basis

An accounting method where revenues and expenses are recognized when cash is received or paid, not when they are incurred.

Accounts Receivable

Receivables from clients for goods delivered or services performed by a company, which have not yet been paid for.