The Following Is a Simple Frequency Distribution Table

question 67

Multiple Choice

The following is a simple frequency distribution table.Suppose we convert this table to a cumulative frequency distribution.The frequencies in each interval of the cumulative frequency distribution would be

• A)5,8,10,14,20 (top down summary)
• B)6,10,12,15,20 (bottom up summary)
• C)both A and B,depending on how the data were summarized
• D)It is not possible to summarize the data using a cumulative frequency distribution.

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Definitions:

Net Income

Net income of the company, which is what remains after deducting taxes, expenses, and other costs from its total revenue.

Period

In finance and business, a period refers to a specific duration of time considered for accounting, reporting, or evaluation purposes.

Accounts

A record within an accounting system that keeps track of financial transactions of a specific type, such as assets, liabilities, revenue, expenses, and equity.

Closing Entries

Adjustments made at the end of an accounting period to transfer balances from temporary to permanent accounts to prepare the books for the next period.