Of the Following, the Largest Component of GDP Is

question 113

Multiple Choice

Of the following, the largest component of GDP is

• A) gross private domestic investment.
• B) personal consumption expenditures.
• C) government expenditure on goods and services.
• D) net exports of goods and services.

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Definitions:

Miscellaneous Expense

Small, often irregular costs that do not fit well into other categories of a budget or financial statement.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary accounts’ balances to permanent ones, resetting the temporary accounts for the next period.

Journalized

The process of recording transactions in a company's journal, marking the first step in the accounting process.

End-Of-Period Spreadsheet

A financial statement prepared at the conclusion of an accounting period, summarizing the income, expenses, and adjustments to accounts.