The Receivable That Is Usually Evidenced by a Formal Instrument

question 60

Multiple Choice

The receivable that is usually evidenced by a formal instrument of credit is a(n)

• A)trade receivable.
• B)note receivable.
• C)account receivable.
• D)income tax receivable.

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Definitions:

Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Supply-Side Economics

An economic theory that advocates for lower taxes and deregulation to stimulate production and economic growth.

Marginal Income Tax Rates

The percentage of tax applied to your income for each tax bracket in which you qualify, reflecting the amount of tax that is paid on an additional dollar of income.

Open-Market Operations

The purchase or sale of Treasury securities by the Federal Reserve; main monetary policy weapon.