Robert Reich Focuses on Three Groups That Make Up 85

question 15

Short Answer

Robert Reich focuses on three groups that make up 85 percent of the American workforce. Name each of these groups and give a practical example.

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Definitions:

Accrued Interest

Interest that has accumulated over a period but has not yet been paid or received.

Note Payable

A financial obligation represented by a written promise to pay a specified amount of money, plus interest, by a certain date or on demand.

Interest Expense

The cost incurred by an entity for borrowed funds, considered a non-operating expense on the income statement.

Commercial Bank

A financial institution that offers a broad range of deposit accounts, including business loans, retail banking, and other financial services.