Which Statement Is False

question 100

Multiple Choice

Which statement is false?

• A)The minimum wage has NOT kept up with the rate of inflation.
• B)The average real hourly earnings fell steadily from 1973 to 1993.
• C)Workers with some high school education make about the same average annual earnings as those with high school diplomas.
• D)It is harder for a middle class student to get a college degree because since 1979,the cost of going to college has gone up twice as fast as the rate of inflation.

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Definitions:

Controller

A senior financial officer in a company responsible for overseeing accounting and financial reporting.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and profits.

Inventory Value

The total cost or market value of all the goods held by a company intended for sale or used in production.

Prime Costs

The combined costs of direct materials and direct labor that are directly involved in the production of a product.