Which of the Following Is the Phase That Follows the Recessionary

question 97

Multiple Choice

Which of the following is the phase that follows the recessionary phase of a business cycle?

• A)Trough
• B)Expansion
• C)Peak
• D)Contraction

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Definitions:

Accrued Salaries

Salaries that have been earned by employees but have not yet been paid by the employer.

Reversing Entries

Journal entries made at the beginning of an accounting period to reverse or cancel out adjusting entries made in the previous period.

Journal Entries

The record of financial transactions in the accounting books, capturing debits and credits for each transaction to maintain accurate financial statements.

Salaries Earned

Compensation that employees have earned during a specific period but have not yet been paid.