Determine the Mode of a Variable from Raw Data
-The

question 1

Multiple Choice

Determine the Mode of a Variable from Raw Data
-The following data represent the bachelor degrees of CEO s at area small businesses. Determine the mode degree. $\begin{array}{l|c}\text { Degree } & \text { Number } \\\hline \text { Accounting } & 24 \\\text { Business } & 47 \\\text { Liberal Arts } & 11 \\\text { Marketing } & 21 \\\text { Other } & 15\end{array}$

• A) business
• B) accounting
• C) marketing
• D) no mode

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Definitions:

Goodwill Impairment

An accounting concept that occurs when the carrying value of goodwill exceeds its fair value, indicating that the asset has lost value.

FIFO System

"First In, First Out," an inventory valuation method where goods first added to inventory are the first ones to be sold.

Straight Line Amortization

A method of allocating an asset's cost evenly across its useful life.

Fair Values

An estimate of the market value of an asset or liability based on current market prices or valuations.