A Lorenz Curve Graphs the

question 123

Multiple Choice

A Lorenz curve graphs the

• A) percentage of income or wealth against the percentage of households.
• B) cumulative percentage of income or wealth against the cumulative percentage of households.
• C) cumulative value of income against the cumulative percentage of households.
• D) percentage of wealth against the percentage of income.

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Definitions:

Ledger

A comprehensive collection of a company's accounts, including the financial transactions and balances, used to compile the financial statements.

Transactions

Financial events that affect the assets, liabilities, or equity of a company, including sales, purchases, loans, and payments.

Source Documents

Original records (such as invoices, receipts, contracts) that provide the evidence and details of business transactions.

Business

A commercial organization or enterprise that engages in professional, commercial, or industrial activities.