Which of the Following Accurately Describes Income in Texas in 2008

question 46

Multiple Choice

Which of the following accurately describes income in Texas in 2008?

• A)The median income of Texas families was higher than the national average
• B)The median income of Texas households was higher than the national average
• C)The per capita income of Texans was higher than the national average
• D)The per capita income of Texans was roughly equal across ethnic groups.
• E)The per capita income of Texas Anglos was considerably higher than the per capital income of all Americans

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Definitions:

Net Price Method

A pricing strategy taking into account all available discounts and rebates to determine the final purchase price.

Purchase Discounts Taken

Reductions in the purchase price of goods or services, realized for paying early or within a specified period.

Credit Terms

The conditions under which credit will be extended to a customer, including the repayment time frame and any interest or fees that apply.

Periodic System

An inventory valuation method where physical inventory counts are done periodically to determine the cost of goods sold and the ending inventory level.