Compute the Mode for the Following Data

question 56

Multiple Choice

Compute the mode for the following data. 12, 16, 19, 10, 12, 11, 21, 12, 21, 10

• A)21
• B)11
• C)12
• D)10

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Definitions:

Likelihood of Collection

The probability that debts owed to a company will be paid by its debtors.

Materiality Constraint

An accounting principle that states financial information is material if its omission could influence decisions.

Direct Write-Off Method

An accounting method where uncollectable debts are written off to the expense account directly when they are deemed uncollectable.

Accounts Receivable Turnover

A financial metric that measures how efficiently a company collects revenue from its credit sales.