Refer to the Following Wage Breakdown for a Garment Factory

question 44

Multiple Choice

Refer to the following wage breakdown for a garment factory: What is the class midpoint for the class with the greatest frequency?

• A)$5.50
• B)$8.50
• C)$11.50
• D)$14.50

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Definitions:

Normal Balance

The side (debit or credit) on which increases to an account are recorded, based on the type of account.

Normal Balances

Refers to the side of an account (debit or credit) where increases in the account are recorded.

Accounts

Financial records that track the transactions and balances for specific items such as assets, liabilities, equity, revenue, and expenses.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities or equity on a company's balance sheet.