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ValentinkaMS [17]
3 years ago
14

Setting a specific income level and then defining a person (or household) as poor if his or her (or its) income falls below that

income level is called a(n): Select one: a. means-tested test. b. relative income test. c. absolute income test. d. nominal income test.
Business
1 answer:
Darya [45]3 years ago
5 0

Answer: Option (c) is correct.

Explanation:

Correct: Absolute income test

Absolute income test is a measure of poverty in a country. In absolute income test, there is a setting of income level that is the benchmark for the poverty. This means that if a person's income falls above this income level then he is not considered as poor whereas if a person's income falls below this income level then he regarded as poor.

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What is an emergency fund?
alexira [117]

Answer:

box of money.

Explanation:

it is for money so u can get the money for emergency's

4 0
3 years ago
Qualities like hope or friendly service are examples of which of the following?
irina [24]

Answer:

unique selling propositions

7 0
3 years ago
Read 2 more answers
Wagner Enterprises and Stone Services both disposed of an old asset. When completing the journal entry, Wagner Enterprises inclu
In-s [12.5K]

Answer:

Wagner Enterprises and Stone Services

Disposal of old asset:

It could be that Stone Services exchanged its old asset with a new one with a company.  In that situation, the debit goes to New Equipment, while the credit is to the old Equipment.  Another reason could be that Stone Services sold the old asset on account.  In this situation, the debit goes to the Accounts Receivable account, while the old asset is credited accordingly.

Explanation:

When a company disposes of an old asset, it credits the asset account and transfers the amount to the Sale of Asset account.  The same is done for the accumulated depreciation, in reverse.  When cash is realized from the disposal, the Sale of Asset account is credited, while Cash account is debited.  Then, the difference in the Sale of Asset account will be a gain or a loss, depending on the net book value and the cash realized from the sale.

3 0
3 years ago
The 2016 income statements of Leggett & Platt, Inc. report net sales of $3,749.9 million. The balance sheet reports accounts
sergejj [24]

Answer:

option (A) 49 days

Explanation:

Data provided:

Net sales = $3,749.9 million

Accounts receivable on December 31, 2016 = $486.6 million

Accounts receivable on December 31, 2015 = $520.2 million

Now,

The duration from December 31, 2015 to December 31, 2016 = 365 days

Days sales outstanding = \frac{\textup{Average accounts receivable}}{\textup{Credit sales}}\times Number of days

or

Days sales outstanding = \frac{\frac{\$486.6 + \$520.2}{2}\textup{million}}{\$\textup{3,749.9 million}}\times365

or

Days sales outstanding = \frac{\$\textup{503.4 million}}{\$\textup{3,749.9 million}}\times365

or

Days sales outstanding = 48.99 ≈ 49 days

Hence,

The correct answer is option (A) 49 days

5 0
3 years ago
Companies must follow generally accepted accounting principles (gaap) for ______ accounting reports.
Snowcat [4.5K]

Companies must follow generally accepted accounting principles (gaap) for  international financial reporting standards accounting reports

<h3><u>What are international financial reporting standards ?</u></h3>
  • The International Financial Reporting Standards (IFRS) are a group of accounting guidelines that specify which kinds of transactions and events must be disclosed in financial statements.
  • The International Accounting Standards Board created and maintains them (IASB).
  • The IASB wants the rules to be implemented consistently across the world so that investors and other users of financial statements may compare the financial performance of publicly traded firms with that of their worldwide peers on an equal footing.
  • More than 100 nations, including the European Union and more than two-thirds of the G20, currently utilize IFRS.
  • International Accounting Standards (IAS), which were more traditional standards that IFRS superseded in 2000, are occasionally mistaken with IFRS.

To view more about GAAP refer to:

brainly.com/question/14957399

#SPJ4

8 0
2 years ago
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