According to the U

question 39

Multiple Choice

According to the U.S.Bureau of Labor Statistics,the annual inflation rate in the United States was ________ percent in April 2018.

• A)1
• B)2.5
• C)3
• D)3.5
• E)4

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Definitions:

Accounts Payable

Liability accounts representing the amounts owed by a company to its suppliers or creditors for goods and services received.

General Journal

A journal used in accounting that records all day-to-day financial transactions in chronological order.

Unearned Legal Fees Revenue

Revenue recognized for legal services not yet provided; it is recorded as a liability until the service is delivered.

General Journal

A foundational accounting record where transactions are recorded in chronological order before being posted to specific accounts in the general ledger.