Lily Recently Took a Biochemistry Test, and It Was Reported

question 174

Multiple Choice

Lily recently took a biochemistry test, and it was reported back to her that her score placed her at the 97^th percentile. Therefore:

• A) Lily's score has a z-score of 0.97
• B) Lily was in the bottom 3% of the students who took the test
• C) Lily scored as high or higher than 97% of the students who took the test
• D) ninety-seven students who took the test scored below Lily
• E) ninety-seven students who took the test scored the same as Lily

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Definitions:

Allowance For Doubtful Accounts

A contra-asset account that represents the estimated amount of receivables which are not expected to be collected.

Accounts Receivable Turnover

A financial metric that measures how efficiently a company collects revenue from its credit sales by dividing net credit sales by the average accounts receivable.

Net Credit Sales

Sales made on credit minus any returns or allowances.

Accounts Receivable

The money owed to a business by its customers for goods or services delivered but not yet paid for.