Which of the Following Statements Is Most Likely TRUE Regarding

question 68

Multiple Choice

Which of the following statements is most likely TRUE regarding social class in the United States?

• A)Social class is determined solely by income level.
• B)Lines between social classes are fixed and rigid.
• C)People in different social classes tend to buy different products.
• D)Wealth is critical in determining social class,but education is not.
• E)People are relegated to a permanent class layer.

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Definitions:

Pension Trust Fund

A fund established by an employer to facilitate and organize the investment of employees' retirement funds contributed by the employer and employees.

Special Revenue Funds

Funds used by governments to account for revenue from specific sources that are restricted or committed to expenditure for specified purposes other than debt service or capital projects.

Enterprise Funds

Funds used by a government to account for operations financed and operated in a manner similar to private business enterprises, where the intent is that the costs of providing goods or services to the public on a continuing basis be financed or recovered primarily through user charges.

Capital Projects Funds

Governmental accounting funds used to account for financial resources that are allocated for the acquisition or construction of major capital assets by a government, except those financed by proprietary funds.