Which of the Following Is NOT True About the Evolution

question 13

Multiple Choice

Which of the following is NOT true about the evolution of poverty in the United States?

• A) In 2009,a family of four with an annual income below $23,050 was considered to be living in poverty.
• B) The poverty rates fell for all persons,for the elderly,and for the very young in the 1960s and early 1970s.
• C) The share of income received by the lowest quintile in the United States is smaller than in any other developed nation.
• D) Poverty rates for those under 18 and those over 65 have risen since the 1960s.

---

Definitions:

Custom Goods

Products that are personalized or made to order according to the specifications provided by the customer.

Work in Process Account

An account used to record the costs associated with goods that are partially completed in manufacturing but not yet ready for sale.

Job Order Cost System

An accounting system used to track costs associated with specific jobs or orders, including materials, labor, and overhead.

Cost Performance

A measure of the efficiency of budget management, comparing the budgeted cost of work performed with the actual cost.