In a Study of 4,800 U

question 23

Multiple Choice

In a study of 4,800 U.S.households (Rank & Hirschl,1999) ,children with unmarried parents were more likely to experience severe poverty compared to black children or children with heads of household who completed less than 12 years of school.What can we conclude from this study?

• A) Being unmarried causes financial distress.
• B) A majority of children in the United States live in poverty.
• C) Being black and having less educated parents will protect children from poverty.
• D) Race and education are less important in determining children's well-being than is the relationship status of the parents.

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Definitions:

Trial Balance

A trial balance is a bookkeeping report that lists the balances in each of an organization's general ledger accounts, typically used to check the mathematical accuracy of bookkeeping entries.

Incorrect Account Titles

Errors in the naming or categorization of accounts in the financial records, which can impact the accuracy of financial reporting.

Journalizing

The entering of transaction data in the journal.

Trial Balance

A bookkeeping worksheet listing the balances in each ledger account, used to verify that the sum of debits equals the sum of credits.