Table 20-14 James, Luke, Peter, Micah, and Sarah Are the Only Five

question 12

Multiple Choice

Table 20-14
James, Luke, Peter, Micah, and Sarah are the only five inhabits of Marketsville. The following table shows their income. ​
​
-Refer to Table 20-14. According to the table, what percentage of individuals in Marketsville have an income below $64,000?

• A)20 percent
• B)40 percent
• C)60 percent
• D)80 percent

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Definitions:

Collections

The process of receiving payment on accounts receivable or the amounts collected.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor directly used to create the product.

Collections

The process of receiving payments from customers or clients for goods or services rendered.

Merchandise Purchases

The total cost of goods bought for resale during a specific period in a retail or wholesale business.