When Calculating GDP from the Expenditure Side,"actual Consumption Expenditures" Includes

question 78

Multiple Choice

When calculating GDP from the expenditure side,"actual consumption expenditures" includes

• A)the purchase of a new house.
• B)American tourists travelling to and spending in Canada.
• C)increases in automobile inventories.
• D)the construction of an apartment building.
• E)the monthly rental of an apartment.

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Definitions:

Credited

Recognized or recorded as an increase in assets or a decrease in liabilities in accounting records.

Accrued Expense

Expenses that have been incurred but not yet paid, representing liabilities for goods or services received but not yet invoiced.

Recognising

The process of recording an item in the financial statements when it meets the criteria set by accounting standards.