In the 2010 U

question 25

Multiple Choice

In the 2010 U.S. Census, about ___ percent of the population identified as being from just one racial group, and just ___ percent identified as being from two or more racial groups.

• A) 55; 1.3
• B) 63; 1.7
• C) 77; 2.1
• D) 82; 2.3
• E) 97; 2.9

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Definitions:

Desired Return

The target profit or return a company aims to achieve on investment or sales.

Selling Price

The price of a good or service is established based on considerations like the cost of production, the level of demand in the market, and the presence of competitive products or services.

Absorption Costing

A costing method within accounting that considers all costs involved in manufacturing—including direct materials, direct labor, and all overhead (variable and fixed)—in establishing a product’s price.

Markup Percentage

The percent added to the cost price of goods to cover overhead and profit.