A Court-Mandated Ruling as to Which Parent Will Have the Primary

question 31

Multiple Choice

A court-mandated ruling as to which parent will have the primary responsibility for the welfare and upbringing of a couple's children is called

• A)a separation agreement.
• B)alimony.
• C)custody.
• D)child support.

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Definitions:

Pure Profit

The excess amount remaining after all operational, fixed, and variable costs have been subtracted from total revenue.

Accounting Profits

The difference between total revenue and explicit costs of a business, as calculated for financial reporting and tax purposes.

Explicit Costs

Direct, out-of-pocket payments for wages, materials, rent, and other expenditures incurred in the conduct of a business.

Equilibrium Interest Rate

The interest rate at which the quantity of money demanded equals the quantity of money supplied.