Quality Control Is an Important Issue at ACME Company Which

question 27

Multiple Choice

Quality control is an important issue at ACME Company which manufactures light bulbs.In order to conduct testing of the life hours of their light bulbs,they randomly sampled nine light bulbs and measured how many hours they lasted.378,361,350,375,200,391,375,368,321 What is the mode?

• A)375
• B)368
• C)389.9
• D)200
• E)346.6

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Definitions:

Allowance for Doubtful Accounts

An accounting concept representing the estimated uncollectible amounts from customers' outstanding accounts.

Cash Realizable Value

The amount of cash expected to be obtained from the current sale or disposal of an asset after deducting any selling costs.

Accounts Receivable

Amounts outstanding from customers to a firm for goods or services that have been supplied but remain unpaid.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of a company's accounts receivable that may not be collectable.