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IDENTIFYING AND PARAPHRASING TOPIC SENTENCES
Directions: For each passage, select the letter of the correct topic and write the number of the topic sentence in the blank. Then select the letter of the best paraphrase. 1 In the years following World War II, American financial aid helped Western Europe recover from the war. 2This aid, known formally as the European Recovery Program, and informally as the Marshall Plan, re-energized war-torn Europe. 3Between 1948 and 1952, America channeled over $12 million worth of economic and technical assistance into European countries, and by 1952 those countries receiving aid showed huge growth in industrial production. 4In many cases, production was actually higher than it had been before the war. 5By 1953 many of the homes, roads, and factories that had been ruined during bombing raids were repaired or rebuilt, and the standard of living was better than it had been in 1939.
Topic
a.World War II
b.The Marshall Plan
c.Increase in industrial production following World War II
Topic Sentence _____
Paraphrase
a.By 1953, many of the European homes, roads, and factories destroyed in the war had been rebuilt or at least repaired.
b.The Marshall Plan was the high point of American foreign policy.
c.In the aftermath of World War II, American aid in the form of the Marshall Plan put Western Europe back on its feet.
Net Loss
The result when a company's expenses exceed its revenues during a specific period, indicating a negative income.
Classified Balance Sheet
A financial statement that segregates assets and liabilities into current and non-current categories, providing a detailed snapshot of a company's financial condition.
Closing Entries
Entries recorded at the conclusion of an accounting cycle to shift balances from temporary accounts to permanent ones.
Adjusted Trial Balance
A list of all the accounts and their balances after adjusting entries have been made, used to verify the equality of debits and credits and to prepare financial statements.
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