In 2011, the U

question 41

Multiple Choice

In 2011, the U.S. Census Bureau defined the poverty threshold for a family of four at:

• A) $62,050
• B) $52,700
• C) $42,000
• D) $30,500
• E) $22,491

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Definitions:

Journal Entry

A Journal Entry is a record in bookkeeping that logs the debit and credit parts of a financial transaction in accounting.

Credits

Entries that increase liabilities or equity accounts, or decrease asset or expense accounts in accounting.

Wages Payable

An account that records the amounts owed to employees for work that has been performed but has not yet been paid.