Which of These Does the Chapter Text List as a Major

question 48

Multiple Choice

Which of these does the chapter text list as a major disadvantage of being in the lower class in the U.S.?

• A)limited ability to move up in an occupation
• B)increased likelihood of domestic issues
• C)a shorter life expectancy
• D)a higher likelihood of being affected by hard economic times

---

Definitions:

Interest

Interest is the cost paid for borrowing money, typically expressed as a percentage of the amount borrowed over a certain period of time.

Adjusting Entry

A journal entry made in the accounting records at the end of an accounting period to allocate income and expenditure to the appropriate period.

Direct Write-Off Method

An accounting practice where uncollectible accounts receivable are directly written off against revenue at the time they are deemed to be uncollectible.

Allowance Method

An accounting technique that estimates and reduces accounts receivable to reflect only amounts expected to be collected.