Identify the INCORRECT Observation About Asian Americans

question 264

Multiple Choice

Identify the INCORRECT observation about Asian Americans.

• A) Asian Americans are the largest and fastest-growing ethnic group in the United States.
• B) The number of Asian Americans has more than tripled since 1980.
• C) Asian Americans have the highest median family income of the major ethnic groups.
• D) In 2010 they spent over $500 billion a year.
• E) Because of their income, a lot of companies are targeting these consumers.

---

Definitions:

Variable Costing

An accounting method that includes all variable production costs (materials, labor, overhead) in product costs but treats fixed overhead expenses as period costs.

Reconciliation

The process of ensuring two sets of records (usually the balances of two accounts) are in agreement.

Variable Costing

A costing method where only variable production costs are included in product costs, with fixed overhead expenses treated as period costs.

Contribution Format

A method of income statement presentation that separates fixed costs from variable costs to highlight the contribution margin.