A Summary of Data That Shows the Number of Observations

question 44

Multiple Choice

A summary of data that shows the number of observations in each of several nonoverlapping bins is called

• A) a frequency distribution.
• B) a sample summary.
• C) a bin distribution.
• D) an observed distribution.

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Definitions:

Contra-Asset Account

An account that offsets or reduces the balance of its related asset account, such as accumulated depreciation reducing the carrying value of fixed assets.

Liability Account

An accounting record that represents a company's legal debts or obligations that arise during business operations.

Cash Basis

An accounting method where revenue and expenses are recognized only when cash is exchanged.

Accounts Receivable

Funds that customers owe to a business for products or services they have received but have not yet paid for.