After World War II the Average U

question 66

Multiple Choice

After World War II the average U.S.recession has lasted:

• A)a few months.
• B)about half a year.
• C)a little less than a year.
• D)about three weeks.
• E)about two years.

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Definitions:

Unearned Rent

Payment received for rent before the rental period has occurred, classified as a liability until earned.

Office Supplies

Items used in offices on a regular basis for administrative tasks or operations, including pens, paper, and staplers.

Accounts Payable

Money owed by a business to its suppliers for goods or services that have been delivered or used but not yet paid for.

Accounts Receivable

Debts owed by clients to a corporation for items or services that have been supplied but are still unpaid.