Tony Was Employed Directly After Leaving High School in a Paper

question 92

Multiple Choice

Tony was employed directly after leaving high school in a paper mill for 16 years, until it closed; today he works in a call centre. This story has been repeated throughout Canada's forest-related industries. Which of the following terms best defines Tony's experience?

• A) deskilling
• B) deindustrialization
• C) downsizing
• D) shrinkage

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Definitions:

Accrual Method

An accounting method that records revenues and expenses when they are earned or incurred, regardless of when the cash is received or paid.

Installment Sales Method

The installment sales method is an accounting technique used to recognize revenue and income on sales made through installment payments over time.

Intraperiod Tax Allocation

The process of allocating income taxes within a single financial reporting period, dividing the total tax expense among different parts of the financial statements.

Extraordinary Gain

Profits that arise from events that are unusual, infrequent, and not expected to recur in the foreseeable future.