Which of the Following Is NOT a Description of the Household

question 16

Multiple Choice

Which of the following is NOT a description of the household life cycle stage known as "empty nest I: middle-aged with no children"?

• A) married couples who have never had children
• B) second marriages in which children from a first marriage are not living with the parent
• C) married couples whose children have left home
• D) married couples who have adopted children who are still living at home
• E) All of the above are characteristics of this household life cycle stage.

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Definitions:

General Ledger

A collection of a company's financial accounts, where transactions are recorded in separate accounts to maintain a comprehensive financial record.

Explanation Column

A column in accounting ledgers or financial reports where details are provided to explain the nature or reason for a transaction.

Computerized Accounting System

A software-based method that provides automatic bookkeeping and accounting for business transactions, improving accuracy and efficiency over manual methods.

Chart of Accounts

A listing of all the accounts in a general ledger that a business uses to code each of its transactions based on the nature of the expense, asset, liability, etc.