If I Wanted to Know the Middle Data Point from My

question 2

Multiple Choice

If I wanted to know the middle data point from my dataset, what type of measure of central tendency would this be?

• A) Mean
• B) Median
• C) Mode
• D) Standard deviation

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Definitions:

Bank Reconciliation

The process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement.

Non-current Liability

A Non-current Liability is a financial obligation that a company does not expect to settle within the next twelve months from the reporting date.

Credit Balance

A situation where the total credits in an account exceed the total debits; it's common in liability, revenue, and equity accounts.

Risk Assessment

The process of identifying and evaluating potential risks that could negatively affect the achievement of objectives.