In this system, which amount category is coded as 1?

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Multiple Choice

In this system, which amount category is coded as 1?

Explanation:
In this coding scheme, numeric codes are assigned in ascending order to monetary brackets, with the smallest bracket getting the smallest code to keep the system simple and easy to tally. The category for amounts up to $100 is the smallest bracket, so it is coded as 1. Larger ranges receive higher codes, such as the next bracket ($101–$500) being coded with a higher number, and the highest bracket ($501 and higher) with an even higher code. The option about digits on a unique identification number isn’t an amount category at all, so it wouldn’t be used to code the monetary amount. Therefore, the mapping assigns Up to $100 to code 1.

In this coding scheme, numeric codes are assigned in ascending order to monetary brackets, with the smallest bracket getting the smallest code to keep the system simple and easy to tally. The category for amounts up to $100 is the smallest bracket, so it is coded as 1. Larger ranges receive higher codes, such as the next bracket ($101–$500) being coded with a higher number, and the highest bracket ($501 and higher) with an even higher code. The option about digits on a unique identification number isn’t an amount category at all, so it wouldn’t be used to code the monetary amount. Therefore, the mapping assigns Up to $100 to code 1.

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