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Ann [662]
3 years ago
5

The preferred way of summarizing and communicating numerical information is with tables, charts, and graphs.

Business
1 answer:
ladessa [460]3 years ago
3 0

Answer:

a. True

Explanation:

A numerical data can be defined as a data set that is expressed in numbers only or a data set consisting of numbers rather than words. A numerical data is also known as a quantitative data.

Basically, numerical data are classified into two (2) main categories and these are;

1. Discrete data: a discrete data is a data set in which the number of possible values are either finite or countable. For instance, the value of a fair die, number of sweets in a jar, number of eggs in a crate etc.

2. Continuous data: a continuous data is a data set having infinitely many possible values and those values cannot be counted, meaning they are uncountable. Any quantity such as height, volume, weight, density, length, pressure, temperature, speed, distance, time are generally a continuous data.

In Statistics or Business, one of the most preferred way of summarizing and communicating numerical information from one person to another is with tables, charts, and graphs.

A table is made up of cells that comprises of rows columns.

A chart can be defined as an effective medium used for displaying data graphically or in a pictorial form.

There are four (4) main types of chart used in the field of science and these includes;

I. Bar chart.

II. Histogram.

III. Cartesian graph.

IV. Pie chart.

A graph can be defined as the graphical representation of data (informations) on horizontal and vertical lines i.e x-axis and y-axis respectively.

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As a business owner you decide to hire a new employee named Maria. You decided to pay Maria $15.00 an hour for her work. At the
stepan [7]

Answer:

A measurement of her work value to the company

Explanation:

For every hour Maria works, she earns $15. The company values her output at a rate of $15 per hour. The more hours she puts in, the higher her pay will be.

Maria is compensated under the time wage system. Under this systems, the output and quality of an employee's work do not count for much. The time spent in the workplace is what is considered most in remuneration.

The businessman must have established a system of capturing the hours' Maria worked. The hours worked multiplied by the valuation of $ 15 per hour resulted in $600 pay for the week.

5 0
4 years ago
Castillo Services paid K. Castillo, the sole shareholder of Castillo Services, $5,200 in dividends during the current year. The
olya-2409 [2.1K]

The entry to close the dividends account at the end of the year is: Debit cash $5,200 and Credit dividends $5,200

<h3>What is a dividend?</h3>

Dividend is a form of payment made by the company to its existing shareholders, usually as a distribution of profits. It is a portion of company's earnings during the period being returned to their investors.

Dividends are means of both profit distribution and incentives for the investor who keeps on investing in the company.

The entries for dividend accounts are :

Debit cash $5,200

      Credit dividends $5,200

Hence, the entry to close the dividends account at the end of the year is: Debit cash $5,200 and Credit dividends $5,200

Learn more about dividend here : brainly.com/question/25845157

6 0
2 years ago
Required information A bank reconciliation proves the accuracy of the depositor's and the bank's records. The bank statement bal
nikklg [1K]

Answer:

Does this question belongs to economics????

5 0
4 years ago
Read 2 more answers
Calculate the inventory-to-sale conversion period based on the following information: average inventories = $110,000; average re
Slav-nsk [51]

Answer:

232.08 days

Explanation:

<em>Inventory to sales conversion period is the average length of time it will take a business to sell its stock items and then replace them. It give s an indication of patronage from customers and the shorter the better.</em>

It is determined as follows:

Average inventory period

= (Average inventory/cost of goods sold) × 365 days

= (110,000/173,000) × 365 days

= 232.08 days

<em>It takes on the average 232.08 days to sell and replace stock</em>

4 0
3 years ago
On January 1, 2018, Hobart Mfg. Co. purchased a drill press at a cost of $36,000. The drill press is expected to last 10 years a
ratelena [41]

Answer:

$2,000

Explanation:

1. straight-line method

depreciation expense = $3,000 and $3,000

accumulated depreciation = $6,000

book value $30,000

2. double-declining-balance method

depreciation expense $7,200 and $5,760

accumulated depreciation = $12,960

book value = $23,040

3. units-of-production method is used.

depreciation expense $1,500 and $5,040

accumulated depreciation = $6,540

book value = $29,460

4 0
3 years ago
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