Based on U

question 60

Multiple Choice

Based on U.S.income data from 2003,approximately what percent of all income did the bottom fifth of all families receive?

• A)48 percent
• B)21 percent
• C)10 percent
• D)4 percent

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Definitions:

Net Income

The profit a company retains after all financial obligations, like costs and taxes, are subtracted from its total income.

Cost Method

An accounting method used to value inventory or investments at their original purchase cost.

Equity Method

An accounting technique used by a company to record its investment in another company.

Unrealized Gain/Loss

A profit or loss that results from holding an investment that has not yet been sold, and thus, the gain or loss is not reflected in the financial statements.