Which of the Following People Would Be Counted as Unemployed

question 62

Multiple Choice

Which of the following people would be counted as unemployed according to official statistics?

• A)Shasta, who is currently not working and is waiting for her new job to start
• B)Mary, who worked only 35 hours last week
• C)Karen, who neither has a job nor is looking for one
• D)Kevin, who is a retiree

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Definitions:

Consolidation Worksheet

A tool used in accounting to merge the financial statements of a parent company and its subsidiaries.

Inventories

Resources allocated for trading within normal business practices, including those being prepared for sale or as materials and supplies meant for depletion during production or in service rendering.

AASB 10

The Australian Accounting Standards Board regulation that sets out the requirements for preparing and presenting consolidated financial statements when an entity controls one or more other entities.

Consolidated Financial Statements

Financial statements that present the assets, liabilities, equity, income, expenses, and cash flows of a parent company and its subsidiaries as if the group were a single economic entity.