The Group of Members Who Have Signed a Major Agreement

question 93

Multiple Choice

The group of members who have signed a major agreement like the European Union can be called a(n) :

• A)trading bloc.
• B)labour council.
• C)embargo.
• D)trade union.
• E)labour union.

---

Definitions:

Trial Balance

A bookkeeping report that lists the balances of all ledgers accounts in order to verify that debits equal credits.

Prepaid Expenses

Upfront costs incurred for items or services that are to be obtained in the upcoming time.

Accrued Expenses

Expenses that have been incurred but not yet paid, representing liabilities on the balance sheet.

Assets

Assets are resources controlled by a company as a result of past events and from which future economic benefits are expected to flow to the entity.