Over the Past Three Decades, Daily Calorie Consumption by Americans

question 20

Multiple Choice

Over the past three decades, daily calorie consumption by Americans has

• A) decreased slightly.
• B) primarily come from junk foods.
• C) leaned toward healthy foods such as fruits and vegetables.
• D) increased significantly.

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Definitions:

Permanent Accounts

Accounts that carry their ending balances over to the next accounting period and are not closed out.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Accruals

Accounting adjustments for revenues that have been earned or expenses that have been incurred but not yet recorded through daily entries.

Deferrals

Expenses or revenues that have been recorded but not yet realized. This can involve money that has been received or paid but not yet earned or incurred.