The Accompanying Relative Frequency Distribution Represents the Last Year Car

question 27

Multiple Choice

The accompanying relative frequency distribution represents the last year car sales for the sales force at Kelly's Mega Used Car Center. If Kelly's employs 100 salespeople, how many of these salespeople have sold at least 65 cars in the last year?

• A) 22
• B) 25
• C) 31
• D) 47

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Definitions:

Purchase Obligation

A commitment to buy goods or services under specified conditions, often including future dates and quantities.

Adjusting Journal Entries

Entries made in the accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Contingent Loss

A potential financial loss that may occur in the future depending on the outcome of a specific event, often recognized in financial statements once the loss is deemed probable and the amount can be reasonably estimated.

Cancellable

The property of being able to be cancelled or terminated, often referring to contracts, policies, or agreements that can be ended before the agreed-upon term.