In 2015,the U

question 55

Multiple Choice

In 2015,the U.S.Census Bureau defined the poverty threshold for a family of four at:

• A) $52,700.
• B) $42,000.
• C) $30,500.
• D) $24,250.

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Definitions:

Accumulated Depreciation

This refers to the total amount of a company's asset cost that has been expensed through depreciation over the asset's life, reducing its initial cost on the balance sheet.

Assets Sold

Items or properties a company has disposed of, either by selling, trading, or other means of transfer.

Sum-Of-The-Years'-Digits Depreciation

A method of depreciation that results in a more accelerated write-off of the asset than the straight-line method, basing the expense on a fraction that decreases year by year.