The U.S.government Definition of "Unemployed" Includes Those Who

question 12

Multiple Choice

The U.S.government definition of "unemployed" includes those who

• A)are temporarily not working because of illness, but hold a job.
• B)are without a job but are actively searching for employment.
• C)are over the age of 16 and who are not working at least 5 hours per week.
• D)volunteer fewer than 20 hours per week.
• E)work unpaid 15 hours or more in a family business.

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, preparing the books for the next period.

End-Of-Period Spreadsheet

A financial report used to compile and summarize the accounting information at the end of an accounting period, including balances for assets, liabilities, and equity.

Income Statement Columns

Divisions in the income statement document that categorize and display revenues, expenses, and profit or loss data.

Net Income

A company's profit margin post the deduction of all expenses and taxation from the total revenue.