In a Grouped Frequency Distribution, the Size of the Grouped

question 26

Multiple Choice

In a grouped frequency distribution, the size of the grouped intervals is called:

• A)the computed size.
• B)the valid interval.
• C)the interval width.
• D)the raw interval.

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Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since it was acquired, representing how much of the asset's value has been used up.

Balances

The figures that represent the difference between the sum of debits and credits in an account.

Expense Recognition

The accounting principle that expenses are recorded and reported in the same period as the revenues they help to generate, ensuring accurate financial statements.

Revenue Recognition

The accounting principle that revenue should be recognized in the accounting period in which it is earned and realizable, regardless of when cash is received.