In this system, which amount category is coded as 3?

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Multiple Choice

In this system, which amount category is coded as 3?

Explanation:
Amounts are grouped into ordered brackets and each bracket gets a code that increases with size. The first bracket covers up to $100, the next covers $101–$500, and the third covers $501 and higher. Since the codes rise with the bracket’s size, the category $501 and higher is assigned the code 3. The option labeled Payment isn’t an amount range, so it isn’t part of this increasing sequence of monetary brackets.

Amounts are grouped into ordered brackets and each bracket gets a code that increases with size. The first bracket covers up to $100, the next covers $101–$500, and the third covers $501 and higher. Since the codes rise with the bracket’s size, the category $501 and higher is assigned the code 3. The option labeled Payment isn’t an amount range, so it isn’t part of this increasing sequence of monetary brackets.

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