Programs That Are Not Means-Tested

question 51

Multiple Choice

Programs that are not means-tested:

• A)provide benefits for people regardless of income level.
• B)specifically help those with low incomes.
• C)provide benefits only for households that earn below the mean household income in the United States for a given year.
• D)provide only in-kind benefits.

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Definitions:

Perpetual

An inventory system where updates are made continuously to the inventory records, reflecting each sale or purchase.

Periodic Inventory System

An inventory system in which the inventory count and the cost of goods sold calculation are performed at set intervals, typically at the end of an accounting period.

Periodic Inventory System

An inventory accounting system where updates are made on a periodic basis, rather than continuously, often used for calculating cost of goods sold at the end of an accounting period.

Sales Returns & Allowances

Reductions in sales revenue for products returned by customers or allowances given for damaged goods.