According to William Shepard, the Growth in Competition from 1958

question 44

Multiple Choice

According to William Shepard, the growth in competition from 1958 to 1988 in the United States can be attributed to

• A)imports, efficient economic regulation, and antitrust activity
• B)the rise of the global market and inflation
• C)the fall of communism
• D)imports, deregulation, and antitrust activity
• E)exports, deregulation, and technological improvement

---

Definitions:

Accounting Cycle

The accounting cycle is a step-by-step process of recording, classifying, and summarizing financial transactions of a business to provide an accurate picture of its financial position and performance.

Adjusting Entries

Documentation in accounting made at the termination of an accounting cycle to allot income and spending to the span in which they factually occurred.

Debit Total

The sum of all debit entries made in an account or ledger over a specific period.

Credit Total

The sum of all credit transactions in an accounting period, representing the amount owed by a business to its creditors.