Lane Is Considering Dropping Out of High School and Finding

question 49

Multiple Choice

Lane is considering dropping out of high school and finding a job.Lane should know that dropouts __________ than high school graduates.

• A) have much higher employment rates
• B) are less likely to be out of work from time to time
• C) are more likely to have skills valued by employers
• D) are more likely to remain in menial, low-paid jobs

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Definitions:

Temporary Account

A temporary account is used to track transactions during an accounting period, which is then transferred to a permanent account at the period's end, such as revenue and expense accounts.

Bad Debts Expense

Represents the amount of receivables a company does not expect to collect and is recorded as an expense.

Merchandise Inventory

The goods a company holds for the purpose of sale to customers in the normal course of business.

Net Realizable Value

The estimated selling price of goods minus the cost of their sale or disposal, reflecting the actual cash value of inventory.