Which Statement Is True

question 276

Multiple Choice

Which statement is true?

• A)Most poor people are black.
• B)Most poor people are Hispanic.
• C)About one child in six lives in poverty.
• D)Old people have a higher poverty rate than children.

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Definitions:

Amortization

The gradual reduction of a debt or the spreading out of capital expenses for intangible assets over a specific period of time for accounting and tax purposes.

Patent Rights

Legal entitlements granted to inventors that allow them to exclude others from making, using, selling, or importing their invention for a certain period.

Straight-Line Method

A depreciation technique where an asset's cost is evenly spread over its estimated useful life, resulting in equal annual depreciation expenses.

Partial-Year Depreciation

The calculation of depreciation for assets acquired or disposed of partway through the fiscal year, based on the portion of the year that the asset was in use.