The Statistical Function MODE Returns the Most Frequently Occurring Value

question 76

True/False

The statistical function MODE returns the most frequently occurring value in a range of data.

---

Definitions:

Net Period

The timeframe between the issuance of an invoice and the due date for payment, often referred to in terms of net 30, net 60, etc.

Prompt Payment Discount

A discount offered to customers for paying their invoices early, serving as an incentive for quicker payment.

Credit Bureaus

Organizations that collect and maintain individual credit information, supplying it to creditors to help them decide whether to lend money.

Credit Applicant

An individual or entity that applies for a loan or credit from a financial institution or lender.