Match the Following Aggregate Functions with What They Compute

question 90

Essay

Match the following aggregate functions with what they compute:
I. Avg
II. Sum
III. Count
IV. Min
V. Max
A. Counts the number of values in a column
B. Average of a column
C. Returns the lowest value
D. Returns the highest value
E. Totals the items in a column

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Definitions:

Accounting Principle

Fundamental guidelines or rules that govern how financial transactions and events are recorded and reported in financial statements.

IFRS

International Financial Reporting Standards; a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide the preparation of financial statements globally.

Beginning Inventory

The value of all goods available for sale at the start of an accounting period.

Net Income

The net income of a business following the subtraction of all costs, taxes, and operational expenses from its revenue.