A Long and Deep Recession in the Business Cycle Is

question 169

Multiple Choice

A long and deep recession in the business cycle is:

• A) unemployment.
• B) a trough.
• C) a recession.
• D) a depression
• E) unavoidable.

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Definitions:

Interest Charge

The amount charged by a lender to a borrower for the use of borrowed money, typically expressed as an annual percentage of the principal.

Dishonor Of Note Receivable

Occurs when a promissory note's maker fails to make the scheduled payment to the note's holder when due.

Accounts Receivable

Amounts of money owed to a company by its customers for goods or services that have been delivered but not yet paid for.

Allowance For Doubtful Accounts

A contra-asset account used to estimate the portion of accounts receivable that is expected not to be collectible due to credit sales.