Which of the Following Is an Accurate Statement About Unemployment

question 7

Multiple Choice

Which of the following is an accurate statement about unemployment during the New Deal?

• A) It never fell below 75 percent.
• B) As late as 1939 more than 17 percent of the labor force remained jobless.
• C) New Deal social and economic programs virtually eliminated unemployment for the first time in American history.
• D) The jobless rate crept steadily upward from 1932 until 1945.
• E) It never exceeded 7.5% even though politicians exaggerated the crisis for their own benefit.

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Definitions:

Accounts Receivable-James

An account showing the amount of money owed to a business by a particular customer, James, for products or services that have been delivered or used but not yet paid for.

Initial Write-off

The action of recognizing that a particular asset has lost value and accounting for it as an expense.

Partial Payment

A payment made that is not in full settlement of a debt but is instead a portion of the total amount owed.

Allowance for Doubtful Accounts

An estimate of the amount of credit sales that are expected to become uncollectible, used to adjust accounts receivable to its net realizable value.