Exhibit 3-1 A Researcher Has Collected the Following Sample Data

question 11

Multiple Choice

Exhibit 3-1
A researcher has collected the following sample data.
-Refer to Exhibit 3-1. The median is

• A)5
• B)6
• C)7

---

Definitions:

Planning Budget

A forecast of revenue, expenses, and cash flow used by organizations to plan for the upcoming period.

Occupancy Expenses

Costs related to occupying a physical space, such as rent, utilities, and property taxes.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity level, allowing better analysis and control over performance.

Administrative Expenses

Costs related to the general operation of a company, including expenses such as salaries of non-sales personnel, and office supplies.