A Citizen of France Who Moves to the United States

question 32

Multiple Choice

A citizen of France who moves to the United States to work at Ford is a(n)

• A) a host-country national.
• B) a local.
• C) an inpatriate.
• D) an acquired citizen.

---

Definitions:

Income Summary Account

A temporary account used in the closing process that aggregates all income and expense accounts to determine net income or loss for a period.

Permanent Account

An account in the general ledger that carries its ending balance over to the next accounting period, such as assets, liabilities, and equity accounts.

Balance Sheet

A balance sheet is a financial statement that provides a snapshot of a company's financial condition at a specific time, summarizing its assets, liabilities, and shareholders' equity.

Income Statement Debit Column

Typically, an income statement does not use a debit column; instead, expenses decrease revenue to show net income or loss.