Accountants Often Use the Median When Studying Salaries for Various

question 83

Multiple Choice

Accountants often use the median when studying salaries for various jobs. What is the median of the following salary list:: $126,000, $112,000, $158,000, $235,000, $206,000, $107,000, $146,000, $ 835,000, $224,000, $185,000?

• A) $158,000
• B) $171,500
• C) $233,000
• D) $259,000

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Definitions:

December 31

The last day of the calendar year, often used as the end date for annual financial reporting.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, showing the net worth and financial health of the business.

Cash Register

A machine or device at a point of sale used to calculate and register transactions and to store money.

Cash Over and Short

An account used to report the discrepancies between the actual amount of cash received and the expected amount in a cash transaction.