Between 1994 and 2019, the Number of People in the World

question 128

Multiple Choice

Between 1994 and 2019, the number of people in the world living in poverty has

• A) stayed roughly the same.
• B) decreased by 60%.
• C) doubled.
• D) increased by 50%.

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Definitions:

Adjusting Entry

A journal entry made at the end of an accounting period to update the accounts and ensure they reflect all revenues earned and expenses incurred during the period.

Deferred Revenue

Income received by a company for goods or services yet to be provided; recognized as a liability until the service or product is delivered.

Journal Entry

A record in accounting that represents a transaction where debits and credits are equal, documenting financial transactions in the ledger.

Depreciation Expense

The deliberate apportionment of a tangible asset's cost over the period it is expected to be useful.