In 2011,how Large Were Canadian Government Purchases of Goods and Services

question 23

Multiple Choice

In 2011,how large were Canadian government purchases of goods and services?

• A)5 percent of GDP
• B)12 percent of GDP
• C)21 percent of GDP
• D)26 percent of GDP

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Definitions:

Journal

A chronological record of all financial transactions, used as the initial place of entry for such transactions in the accounting system.

Liabilities

Financial obligations or debts that a business owes to others, which must be settled over time through the transfer of economic benefits.

Capitals

Financial assets or the financial value of assets, such as cash and securities, owned by a business.

Revenues

The income generated from normal business operations and includes discounts and deductions for returned merchandise.