Which of the Following Statements Is True

question 56

Multiple Choice

Which of the following statements is true?

• A) The people that make up the top 5 percent of all income earners are all millionaires.
• B) In 2009, the lowest 20 percent of all income earners earned less than 5 percent of the total money income.
• C) The income distribution in the United States is completely equal.
• D) Between 1967 and 2009, the income distribution in the United States became more equal.

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Definitions:

Liquidity

Liquidity refers to how easily an asset or security can be converted into cash without affecting its market price.

Current Liabilities

Current Liabilities are debts or obligations that are due to be paid within one year or within the normal operating cycle of a business, whichever is longer.

Owner's Equity

The residual interest in the assets of an entity after deducting liabilities, representing the owner's claim on the business assets.

Intangible Assets

Assets having no physical substance (such as patents or franchises).