Figure 20-2 Number of Poor

question 215

Multiple Choice

Figure 20-2
Number of Poor

-Refer to Figure 20-2.Between 1965 and 2001,during recessions (the shaded bars) the number of individuals in poverty has

• A) increased.
• B) decreased.
• C) not changed.
• D) decreased and then increased.

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Definitions:

Face Value

The nominal or dollar value printed on a security or currency, representing its legal value.

Note Receivable

A written promise for amounts to be received by a business, typically including interest.

Allowance Method

An accounting technique used to account for bad debts, where an estimated amount is deducted from accounts receivable to reflect possible non-collection.

Bad Debts

are amounts owed to a company that are considered uncollectible, leading to a financial loss.