In the Context of Economic Security, Which of the Following

question 152

Multiple Choice

In the context of economic security, which of the following statements is true of older adults?

• A) Poverty is linked to a decrease in mental health problems in older adults.
• B) Low socioeconomic status is linked to decreased risk of earlier death in older adults.
• C) Poverty is linked to lower levels of physical fitness in older adults.
• D) Poverty rates among older adults belonging to ethnic minorities are lower than those for non-Latino Whites.

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Definitions:

LIFO Retail Inventory Method

An inventory costing method that assumes the last items placed in inventory are sold first, not necessarily reflecting the actual physical flow of merchandise.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus cost of goods sold.

Net Markups

The difference between the cost of a good or service and its selling price, after accounting for discounts, allowances, or returns.

Net Markdowns

The reduction in the original selling price of merchandise minus any markdown cancellations.