Use the Following to Answer Question(s): Income Distribution in the United

question 138

Multiple Choice

Use the following to answer question(s) : Income Distribution in the United States

-One explanation for why the poor tend to receive more noncash assistance than cash assistance is that:

• A) the poor are better off with noncash assistance.
• B) the poor prefer to receive noncash assistance.
• C) taxpayers prefer to give cash assistance.
• D) those who supply noncash services have more political power than the poor.

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Definitions:

Implicit Rate

The interest rate implied by the lease payments in a leasing agreement, used in lease accounting to calculate the present value of lease payments.

Non-Cancelable Lease

A lease agreement that cannot be terminated before its expiration date by either the lessee or the lessor without incurring penalties.

Economic Life

The estimated period over which an asset is expected to be economically useful to its owner or the duration it can generate revenue, beyond which it is not cost-effective to operate.

Warranty

A guarantee, typically from a manufacturer or seller, promising to repair or replace defective goods within a specified time period.