A Frequency Distribution Is a Tabular Summary of Data Showing

question 4

Multiple Choice

A frequency distribution is a tabular summary of data showing the

• A)fraction of items in several classes
• B)percentage of items in several classes
• C)relative percentage of items in several classes
• D)number of items in several classes

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Definitions:

Fair Market Value

The price at which an asset would change hands between a willing buyer and seller, each having reasonable knowledge of relevant facts, and neither being under compulsion to buy or sell.

Material Facts

Facts that are significant or essential to the issue at hand, and that can influence a decision or outcome.

Void

Refers to an agreement or contract that is deemed legally invalid and unenforceable from the outset, as if it never existed.

Reformation

A court-ordered correction or modification of a written contract to reflect the true intentions of the parties when the contract was mistakenly drafted.