Which of the Following Is One Reason for the Decline

question 196

Multiple Choice

Which of the following is one reason for the decline in aggregate demand that led to the recession of 2007-2009?

• A)falling oil prices
• B)increases in housing prices
• C)the financial crisis
• D)a decline in government spending

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Definitions:

Debits

Accounting entries that increase asset or expense accounts, or decrease liability, equity, or revenue accounts.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit columns to ensure a company's bookkeeping system is mathematically correct.

Journalizing

The process of recording financial transactions in a journal or diary, marking the first step in the accounting cycle.

General Journal

A general journal is a fundamental accounting record where all day-to-day financial transactions of a business are initially recorded.