A frequency distribution is
a. a tabular summary of a set of data showing the relative frequency
b. a graphical form of representing data
c. a tabular summary of a set of data showing the frequency of items in each of several nonoverlapping classes
d. a graphical device for presenting categorical data
C
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Jen signs a check "pay to the order of Key" drawn on Jen's account in Lakeland Bank to buy Key's car. Jen asks Lakeland Bank to indicate on the face of the check that it will accept it when Key presents it for payment. If the bank agrees, this will be
A. a cashier's check. B. a certified check. C. a trade acceptance. D. a traveler's check.
What is the amount and character of the gain that Kate must recognize on the liquidating distribution?
On December 31, Kate receives a $28,000 liquidating distribution from the KLM Partnership. On that date, Kate's basis in her limited partnership interest is $18,000 (which, of course, includes her share of partnership liabilities). The other partners assume her $6,000 share of liabilities. Just prior to the distribution, the partnership has the following balance sheet. Kate is leaving the partnership but the partnership is continuing.
Operating activities include transactions that relate to the primary operations of the company.
Answer the following statement true (T) or false (F)
Brighton Company has a debt-to-assets ratio of 0.45. This means that:
A. stockholders' equity is 45% of total assets. B. investors provide 55% of the company's financing. C. liabilities are 55% of equity. D. stockholders' equity is 55% of total assets.