Contributing Factors of the Recession of 2007-2009 Included All of the Following

question 2

Multiple Choice

Contributing factors of the recession of 2007-2009 included all of the following EXCEPT

• A) widespread foreclosures.
• B) inflated housing prices.
• C) unstable political process.
• D) irresponsible lending by banks.
• E) excessive  borrowing by consumers.

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Definitions:

First Processing Department

The initial stage or department in a manufacturing process where raw materials begin their transformation into finished goods.

Transferred Out

This term is used in accounting to describe costs or goods that are moved from one production process or department to another.

Materials

Raw substances used in the manufacturing process to create a finished product.

Equivalent Unit

A concept used in cost accounting to convert partially completed goods into a number of completed units for accounting purposes, considering the degree of completion.