Data Points That Exceed Plus 1

question 51

Multiple Choice

Data points that exceed plus 1.5 the interquartile range are called _____.

• A) extremists
• B) outcasts
• C) errors
• D) outliers
• E) skewed data

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Definitions:

Adjusted Trial Balance

A roster displaying all accounts alongside their adjusted balances, utilized in the preparation of financial statements.

Error

A mistake in the recording, classification, or processing of financial information.

Contra Revenue Account

An account used to record deductions from gross revenue, including sales returns, allowances, and discounts.

Revenue Account

An account that records the income generated by a business from its normal operational activities.