The US Social Security Administration Has Established an Official Poverty Line

question 94

Multiple Choice

The U.S. Social Security Administration has established an official poverty line. The poverty line is computed by _______________________________.

• A) ​correlating wealth and the cost-of-living index
• B) ​determining the cost of a minimally nutritious diet (short-term) and multiplying this figure by 3 to allow for nonfood costs.
• C) ​estimating the annual cost of living and dividing by 12.
• D) ​surveys to determine how much people spend on housing, food, and other necessities.

---

Definitions:

Operating Lease

A leasing agreement allowing the lessee to use an asset temporarily without transferring the risks and rewards of ownership.

Sales-Type Lease

A leasing arrangement where the lessor recognizes immediate profit on the leased asset as in a sale, based on the difference between the fair value of the leased asset and its cost or carrying amount.

Direct-Financing Lease

A lease agreement where the lessor effectively finances the asset for the lessee, recognizing interest revenue over the lease term.

Credit-Approved Customers

Individuals or entities that have been evaluated and deemed creditworthy by a lender, allowing them to receive goods or services in advance of payment.