It Is Anticipated That in the Future, the U

question 80

Multiple Choice

It is anticipated that in the future, the U.S. workforce will exhibit

• A)about the same demographic mix as it does today.
• B)an increase in ethnic diversity.
• C)a decrease in ethnic diversity.
• D)a decrease in the number of older workers.

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Definitions:

Dishonored Note

A dishonored note is a promissory note that has not been paid by the maker at its maturity date.

Direct Write-Off Method

An accounting method where bad debts are charged against income at the time they are deemed irrecoverable, rather than being anticipated in advance.

Interest

Interest is the cost paid for borrowing money, typically expressed as a percentage of the amount borrowed over a certain period of time.

Adjusting Entry

A journal entry made in the accounting records at the end of an accounting period to allocate income and expenditure to the appropriate period.