A Comparison of Census Bureau Data from 1970 to 2011

question 68

Multiple Choice

A comparison of Census Bureau data from 1970 to 2011 shows that there has been____________________________in the percentage of U.S.households comprising a married couple with their own children under eighteen years of age.

• A)a significant increase
• B)a very minor change
• C)a significant decline
• D)basically no change in the data

---

Definitions:

Income Statement

A financial statement that shows a company's revenue and expenses over a specified period, leading to the net income or loss for the period.

End-Of-Period Spreadsheet

A tool used in accounting to summarize account balances and adjustments at the end of an accounting period, aiding in the preparation of financial statements.

Journalized Closing Entries

These are the final entries made in the accounting ledger to close the books at the end of an accounting period, ensuring that income and expense accounts are properly reset for the next period.

Adjusting Entries

Journal entries made at the end of an accounting period to update the ledger for items that are not recorded during the operating period.