In Order to Be Classified as Unemployed, a Person Must

question 41

Multiple Choice

In order to be classified as unemployed, a person must meet all the criteria below EXCEPT:

• A) not be working for income.
• B) be available for and seeking a job.
• C) have the skills for job openings.
• D) be at least 16 years old.

---

Definitions:

Professional Judgement

The use of professional knowledge and skills to make decisions and solve problems.

Best Estimate

The amount which represents, as closely as possible, what the entity would rationally pay to settle the present obligation at the end of the reporting period or to provide consideration to a third party to assume it.

Obligation Settlement

The process of fulfilling or discharging a liability, such as paying off a loan, fulfilling a contract, or making a required payment.