A Variable's Rank Order Is: 4, 5, 6, 7, 8

question 45

Multiple Choice

A variable's rank order is: 4, 5, 6, 7, 8, 9, 9, 10. What is the median position?

• A) 4
• B) 5.5
• C) 7.5
• D) 10

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Definitions:

Period-End Adjusting Entry

Journal entries made at the end of an accounting period to update accounts for accruals and deferrals that have not been recorded.

Sales Discounts

A reduction in the price of a product or service offered by a seller to encourage prompt payment by the buyer.

Periodic Inventory System

An inventory accounting system where goods are physically counted at specific intervals for financial reporting.

Perpetual Inventory Systems

A method of inventory management where inventory levels are updated in real-time after every sale or purchase transaction.