When We Examine Historical Data on Income Inequality in the U.S

question 46

Multiple Choice

When we examine historical data on income inequality in the U.S. ,we see that the distribution of income gradually became

• A) more equal between 1935 and 2005.
• B) more equal between 1935 and 1973,but that trend reversed itself between 1973 and 2005.
• C) more unequal between 1935 and 1973,but that trend reversed itself between 1973 and 2005.
• D) more unequal between 1935 and 2005.

Apply the direct and indirect methods for reporting operating cash flows.

Analyze and compute net cash inflows and outflows from various activities.

Identify cash and cash equivalents and understand their roles in the cash flow statement.

Understand the effects of changes in assets and liabilities on cash flows.

---

Definitions:

Economic Activities

Actions that involve the production, distribution, and consumption of goods and services within an economy.

Forensic Accounting

The practice of using accounting skills to investigate fraud or embezzlement and to analyze financial information for use in legal proceedings.

Managerial Accounting

The field of accounting focused on providing financial and nonfinancial information to help managers make decisions to fulfill the objectives of an organization.

Financial Accounting

The field of accounting focused on the preparation of financial statements for external users, such as investors and creditors.