Between 2009 and 2013

question 34

Multiple Choice

Between 2009 and 2013:

• A)both the actual and the structural deficit fell substantially.
• B)both the actual and the structural deficit rose subtantially.
• C)the actual deficit rose, while the structural deficit fell substantially.
• D)the structural deficit rose, while the actual deficit fell substantially.

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Definitions:

Accounts Receivable

Funds that customers owe to a business for products or services that have been provided but remain unpaid.

Journal Entry

A written record in accounting that documents a business transaction in the ledger.

Net Realizable Value

The estimated selling price of goods minus the cost of their sale or completion.

Allowance for Doubtful Accounts

An accounting provision made by a company to account for customers who may not be able to make required payments, affecting the accounts receivable balance.