Determine Whether the Spending Pattern Described Is At, Above, or Below

question 154

Multiple Choice

Determine whether the spending pattern described is at, above, or below the national average. Assume that any salariesor wages are after tax.
-A couple under the age of 30 has a combined household income of $3700 per month and spends $ 180 per month on donations.

• A)below average
• B)at average
• C)above average

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Definitions:

Balance Sheet

Financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.

Balance Sheet

is a financial statement that presents a company's financial position, including assets, liabilities, and shareholders' equity at a specific point in time.

Expense

Costs incurred by a business in the process of earning revenue, such as salaries, rent, and utilities.

Capital Account

An account on a nation's balance of payments that records the investment funds coming in and going out of the country.