With Regard to the "Empty Nest," Most Parents

question 52

Multiple Choice

With regard to the "empty nest," most parents

• A) who live vicariously through their children experience relief when their children move out.
• B) consider divorce when children leave the home.
• C) see decreased marital satisfaction after children move out.
• D) see increased marital satisfaction after children move out.

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Definitions:

Credit Sales

Sales made by a business where the customer is allowed to pay at a later date.

Bad Debt Expense

A charge to the income statement for accounts receivable that a company has determined it will not collect.

Adjusting Entry

An entry made in the books of accounts at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Credit Sales

Transactions involving the transfer of goods or services to a customer with the agreement that payment will be made at a later date.