(I in Constructing a Frequency Distribution, You Should Try to Have

question 13

Multiple Choice

(i. In constructing a frequency distribution, you should try to have open-ended classes such as "Under $100" and "$1,000 and over". (ii) To convert a frequency distribution to a relative frequency distribution, divide each class frequency by the sum of the class frequencies.
(iii) When constructing a frequency distribution, try to include overlapping stated class limits, such as 100 up to 201, 200 up to 301, and 300 up to 401.

• A) (i), (ii) and (iii) are all correct statements.
• B) (i) and, (ii) are correct statements but not (iii).
• C) (i) and, (iii) are correct statements but not (ii).
• D) (ii) is a correct statement but not (i) or (iii).
• E) (i), (ii) and (iii) are all false statements.

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Definitions:

Cost of Goods Sold

Costs directly linked to the creation of products sold by a business.

Fraud

Deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Employee Fraud

Dishonest activities conducted by employees to provide them with an advantage, financial or otherwise, at the expense of their employer.

Inventories

Goods and materials that a business holds for the purpose of resale or production.