________ Is the Study of an Economy as a Whole

question 18

Multiple Choice

________ is the study of an economy as a whole.

• A) Microeconomics
• B) Cost-benefit analysis
• C) Behavioral economics
• D) Macroeconomics

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Definitions:

Credit

An accounting entry that increases a liability or equity account, or decreases an asset or expense account, represented on the right side of the ledger.

Closing Entry Process

The accounting procedure used at the end of an accounting period to transfer balances from temporary accounts to permanent accounts.

Revenue Accounts

Accounts that track the income earned from the sale of goods and services, or the increase in equity resulting from the operations of an organization.

Owner's Capital Account

An account on a company's balance sheet that represents the owner's invested capital plus retained earnings minus withdrawals.