Which of the Following Statements About Divorce Is FALSE

question 56

Multiple Choice

Which of the following statements about divorce is FALSE?

• A) Even if parents are having conflicts, it is better for the children if they stay married rather than get divorced.
• B) The family's financial situation usually declines after a divorce.
• C) Divorced parents tend to exert less control over their children than do non-divorced parents.
• D) Children from divorced families are more likely than children from non-divorced families to have been raised by a substance-abusing parent.

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Definitions:

Periodic Inventory System

An inventory system that updates inventory balances and cost of goods sold at the end of an accounting period based on a physical count.

FIFO

An accounting method for valuing inventory that assumes the first items produced or bought are the first ones sold, standing for First In, First Out.

Weighted-Average Cost Method

An inventory costing method that assigns the average cost of goods available for sale to both ending inventory and cost of goods sold, weighted by the quantity of goods.

LIFO

Last In, First Out is a method of valuing inventory where the items that were most recently produced or purchased are the first ones to be used in the calculation of cost of goods sold.