Read the Following Report of a Recent Scientific Discovery and Describe

question 29

Essay

Read the following report of a recent scientific discovery and describe the three main problems associated with this journalistic account.
Headline in Local Newspaper: Scientists discover that being a millionaire is all in your genes!
Recent evidence from a lab at Illusory University suggests that people really are born rich. Using high-tech genetic analysis, they discovered that genes associated with aggression and certain aspects of personality are more common among millionaires than in the general population. Researchers emphasized that there are a lot of commonalities across the population, too. These exciting differences may suggest that people are destined to be either rich or poor, based on inherited biology. We asked people on the street what they thought about these results, and we found that most people reject these findings. "That's just stupid" said Jim Median, "If you work hard enough, anyone can be a millionaire. I know a guy who was born really poor but made a million dollars before he turned 30. What do scientists say about that?"

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Definitions:

Raw Materials Inventory

The total cost of all components and materials stored that are eventually used in the manufacture of a product.

Master Budget

A comprehensive financial planning document that includes all of the organization's financial plans.

Credit Sales

Sales made to customers on credit, allowing them to purchase now and pay later, creating accounts receivable for the company.

Selling Expense

Costs incurred to promote, sell, or distribute a product or service, such as advertising and commission.