Which of the Following Is Included in U

question 92

Multiple Choice

Which of the following is included in U.S. GDP?
i. the rental value of homes owned by U.S. citizens.
ii. the production of Suburban SUVs by GM in its plant in Mexico.
iii. Tickets sold by U2 for concerts held in the United States.

• A)ii only
• B)ii and iii
• C)i, ii and iii
• D)i and iii
• E)i only

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Definitions:

Receivables

Amounts of money owed to a company by its customers or clients for goods or services provided on credit.

Bad Debt Expense Adjustment

An accounting entry to estimate and record the amount of accounts receivable that is not expected to be collected.

Accounts Receivables Turnover

A financial ratio that measures how often a company collects its average accounts receivable over a period.

Credit Sales

Sales transactions where payment is deferred, allowing customers to purchase goods or services on credit.