Since 2000, the U

question 107

Multiple Choice

Since 2000, the U.S. government has generally had a government budget _{--------------------}and so the national debt has _{--------------------}.

• A)deficit; increased
• B)surplus; increased
• C)deficit; not changed
• D)surplus; decreased
• E)deficit; decreased

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Definitions:

Credit Policy

Guidelines that define the credit limits and terms extended by a business to its customers.

Percentage of Receivables Basis

A method for estimating uncollectible accounts by applying a fixed percentage to the total receivables balance.

Cash Realizable Value

The amount of money that can be received from an asset when it is liquidated or sold.

Bad Debt Expense

A recognized expense that represents accounts receivable that are not expected to be collected.