In 2005 Real Personal Saving Has Decreased to ________ of Personal

question 159

Multiple Choice

In 2005 real personal saving has decreased to ________ of personal disposable income.

• A)3.5
• B)4.8
• C)11.2
• D)1.4

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Definitions:

Adjusting Entries

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

Service-Type Business

A service-type business is an entity that provides intangible products or services to customers, rather than physical goods.

Accrual-Basis Accounting

Accounting basis in which companies record transactions that change a company's financial statements in the periods in which the events occur.

Cash-Basis Accounting

Accounting basis in which companies record revenue when they receive cash and an expense when they pay out cash.