Use the Following to Answer Question(s): Income Distribution in the United

question 117

Multiple Choice

Use the following to answer question(s) : Income Distribution in the United States

-In 2015, approximately _______ percent of those counted as poor received food stamps.

• A) 33
• B) 48
• C) 73
• D) 93

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Definitions:

Cost of Goods Sold

The straight costs associated with producing the goods that a company sells, which include labor and materials.

Days' Payable Outstanding

A financial metric that calculates the average number of days it takes a company to pay its invoices from trade creditors.

Accounts Payable

The amounts a business owes to its lenders or suppliers for transactions involving goods and services bought on credit.

Conversion Costs

The combined costs of direct labor and manufacturing overhead, required to transform raw materials into finished goods.