A Researcher Tests Three Different Brands Of $2 \%$ Milk to See How Many Grams of Fat Are in to See

question 5

Multiple Choice

A researcher tests three different brands of $2 \%$ milk to see how many grams of fat are in e 8 ounce glass. The results are shown below.
$\begin{array}{ccc}\hline \text { Brand A } & \text { Brand B } & \text { Brand C } \\\hline 4.76 & 4.72 & 4.78 \\4.74 & 4.75 & 4.76 \\4.72 & 4.76 & 4.79 \\4.79 & 4.74 & 4.77 \\4.75 & 4.77 & 4.78 \\\hline\end{array}$

Find the sum of the ranks for Brand $C$ .

• A) 4.78
• B) 22.5
• C) 23.88
• D) 58

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Definitions:

AASB 136

The Australian Accounting Standards Board standard that deals with impairment of assets, requiring assets to be carried at no more than their recoverable amount.

Value In Use

The present value of the future cash flows expected to be derived from an asset, used in impairment testing.

Present Value

The present value of an amount of money or series of cash flows expected in the future, calculated using a particular interest rate.

Future Cash Flows

are the estimated amounts of money expected to be received or paid out by a business over future periods as a result of its operational activities.