Which One of the Following People Would Be Counted as Unemployed

question 3

Multiple Choice

Which one of the following people would be counted as unemployed in Canada?

• A)Veena is not working, but she is looking for a full-time job.
• B)Kathy has stopped looking for work since she was unable to find a suitable job during a one-month search.
• C)Sharon is a college student with a job.
• D)Christos was laid off from his job a month ago and has not been looking for a new job, as he is waiting for a severance package from his former employer.
• E)Benoit was laid off when his firm closed down two months ago and has not been looking for work, as he is going back to school.

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Definitions:

Reporting Standards

These are formal guidelines that dictate the financial reporting process, ensuring the accuracy, consistency, and transparency of financial statements.

International Financial Reporting Standards (IFRS)

A set of accounting standards designed to bring consistency to accounting language, practices, and statements across the globe.

Net Operating Working Capital

A financial metric that calculates the difference between a company's operating current assets and its operating current liabilities.

Current Assets

Assets on a balance sheet expected to be converted into cash, sold, or consumed within one year or the business cycle, whichever is longer.