A Summary of Data in Which Raw Data Are Grouped

question 37

Multiple Choice

A summary of data in which raw data are grouped into categories and the number of items in each category is listed is called a

• A) frequency table.
• B) summary statistics.
• C) grouped frequency.
• D) table of content.
• E) none of the above

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Definitions:

Payor

A payor, in financial transactions, is the party that makes a payment to another party, the payee, often in fulfillment of an obligation such as a bill, loan, or settlement.

Acceptor

The party who agrees to pay a bill of exchange, such as a draft or check, upon its presentation.

Primarily Liable

Being the first or main party responsible for fulfilling an obligation or debt.

Notice Of Dishonor

A formal notification that a negotiable instrument, such as a check or promissory note, has been presented for payment and refused.