The ____ Is the Most Frequently Occurring Response

question 72

Multiple Choice

The ____ is the most frequently occurring response.

• A) mean
• B) median
• C) mode
• D) standard deviation

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Definitions:

Discount Period

The timeframe during which a payment can be made at a reduced rate, often used in terms of early payment of invoices for goods or services.

Controlling Accounts

A summary account in the general ledger that consolidates the totals of subsidiary ledger accounts.

Subsidiary Accounts

Detailed records that support or are linked to a general ledger account, providing specifics about transactions.

General Ledger

A comprehensive set of accounts that records all financial transactions of a business, providing the data needed to compile financial statements.