In General,a Major Goal of Clinton's 1996 Personal Responsibility and Work

question 31

Multiple Choice

In general,a major goal of Clinton's 1996 Personal Responsibility and Work Opportunity Reconciliation Act was to:

• A) get people back into the labor market as soon as possible.
• B) eliminate poverty among children.
• C) increase government assistance for those in poverty.
• D) expand employment opportunities in government and civil service.

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Definitions:

Net Realizable Value

The estimated selling price of goods, minus the cost of their sale or completion.

Ending Inventory

The final value of goods available for sale at the end of an accounting period, calculated before the next period's beginning inventory.

Cost of Goods Sold

An expense reflecting the direct costs attributable to the production of the goods sold by a company.

LIFO Inventory Method

An accounting method that assumes the last items of inventory purchased are the first to be used or sold, affecting the cost of goods sold and inventory valuation.