-Using the Information in the Table Above, Calculate the Government?s

question 95

Multiple Choice

$\begin{array}{|l|l|}\hline \text { Component } & \begin{array}{l}\text { Amount } \\\text { (dollars) }\end{array} \\\hline \text { Net taxes } & 10\\\hline \begin{array}{l}\text { Personal consumption } \\\text { expenditure }\end{array} & 50 \\\hline \text { Depreciation } & 8 \\\hline \text { Government expenditure } & 20 \\\hline \text { Gros investment } & 26 \\\hline \text { Net exports } & -10 \\\hline \begin{array}{l}\text { Compensation of } \\\text { employees }\end{array} & 65 \\\hline\end{array}$
-Using the information in the table above, calculate the government?s budget deficit or surplus.

• A) -$4
• B) -$10
• C) $4
• D) $2

Distinguish between the components of the general journal and their purposes.

Understand the implications of debiting and crediting specific accounts in accounting transactions.

Interpret the recording of transactions not previously billed or recorded in revenue collections.

Recognize the treatment of accounts payable and receivable in various transactions.

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