Briefly Identify and Describe Three Measures of Central Tendency and Three

question 82

Essay

Briefly identify and describe three measures of central tendency and three measures of dispersion.

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Definitions:

Right Side

In accounting, this refers to the credit side of a ledger account, opposite of the left side (debit side), reflecting increases in liabilities, equity, and revenue accounts.

Account

A record used to keep track of financial transactions within a specific category in accounting.

Credit Side

The right side of an accounting ledger where increases in liabilities, equity, and revenue accounts, or decreases in assets and expense accounts are recorded.

Normal Balance

The side (debit or credit) of an account that is typically increased. For assets and expenses, it's debit; for liabilities, equity, and income, it's credit.