The Weights (In Pounds) of Babies Born at St Maryʹs

question 17

Multiple Choice

The weights (in pounds) of babies born at St Maryʹs hospital last month are summarized in the table. $$\begin{array} { c | c } \text { Weight (lb) } & \text { Number of Babies } \\\hline 5.0 - 6 & 5 \\6.1 - 7.1 & 19 \\7.2 - 8.2 & 20 \\8.3 - 9.3 & 9 \\9.4 - 10.4 & 4\end{array}$$ Find the class limits for the second class.

• A) lower limit: 6.1; upper limit: 7.1
• B) lower limit: 6.1; upper limit: 7.2
• C) lower limit: 6.05; upper limit:7.15
• D) lower limit: 6; upper limit: 7.2

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Definitions:

Net Income

The total earnings or profit of a company after all expenses and taxes have been deducted from revenue.

GAAP

Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting used in any given jurisdiction, primarily in the United States.

Expense Recognition

The accounting principle that dictates the timing of reporting an expense in the financial statements, ensuring expenses are recorded when incurred.

Revenue Recognition

The accounting principle that dictates the conditions under which revenue is recognized and recorded, often requiring that revenue is earned and measurable.