Financial and Physical Items Owned by a Business

question 145

Multiple Choice

Financial and physical items owned by a business.

• A) Income
• B) Assets
• C) Equity
• D) Liabilities

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Definitions:

Contraction

A period during which the economy declines as reflected by falling output, employment, income, and other aggregate measures.

Expansion

A period during which the economy grows as reflected by rising output, employment, income, and other aggregate measures

Long-term Growth

The sustained increase in the economic output of a country or region over a significant period.

Rules Of Game

The set of guidelines and principles that determine how a particular game or activity is conducted.