Which of the Following Would Be Included in the Expenditures

question 15

Multiple Choice

Which of the following would be included in the expenditures approach to calculating U.S.GDP?

• A) Wage and salary payments to U.S.workers
• B) Interest paid on borrowed funds
• C) Government payments of social security benefits
• D) Purchases of new trucks by Federal Express
• E) Wage payments to U.S.citizens working outside the U.S.

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Definitions:

Invoiced

The process of sending a document to a customer indicating amounts owed for goods or services provided.

Prepaid Insurance

An asset account that represents insurance premiums paid in advance for coverage extending beyond the current accounting period.

Expired Insurance

Insurance coverage that has reached the end of its policy term and is no longer in effect.

Unearned Revenue

Money received by a company for goods or services that have not yet been delivered or performed.