Which of the Following Does Not Reflect an Accurate Description

question 9

Multiple Choice

Which of the following does not reflect an accurate description of the budget of a working-class family in an urban area?

• A) The main breadwinner in a family typically made less than $300 per year.
• B) Approximately 70 percent of a family's income went towards food and rent.
• C) To meet basic needs, many working-class children had to work.
• D) Most families lived close to the margin.
• E) Skyrocketing commodity prices pushed many families to the edge of starvation.

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Definitions:

Nonlocal Check

A check written on an account at a bank which is located outside the local check-processing region of the bank at which it is deposited.

Depositary Bank

A financial institution that holds and manages securities deposits and facilitates trading of these financial assets.

Drawee Bank

Drawee bank refers to the bank upon which a check or draft is drawn, responsible for paying the specified amount of money to the entity presenting the check for payment.

Payor Bank

A bank that is responsible for paying the check or draft drawn on the funds deposited in an account.