Statement I: in 2008 the Official Poverty Line for a Family

question 242

Multiple Choice

Statement I: In 2008 the official poverty line for a family of four was $22,025.
Statement II: The poverty rate in 2009 was 13.2%.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Return on Assets

A profitability ratio that indicates how efficiently a company is using its assets to generate earnings.

Return on Sales

A financial ratio that calculates how efficiently a company is generating profits from its revenue, typically expressed as a percentage of sales revenue that turns into net income.

Ending Cash Balance

The amount of cash on hand at the end of a financial period.

Statement of Cash Flows

A financial document that provides aggregate data regarding all cash inflows a company receives from its ongoing operations and external investment sources, as well as all cash outflows that pay for business activities and investments during a given period.