Jonah Grew Up in a Neighborhood with Poor Schools, Few

question 32

Multiple Choice

Jonah grew up in a neighborhood with poor schools, few businesses, and many run-down and abandoned buildings. However, in the past few years, the city has renovated many buildings, and tax breaks are encouraging new businesses to move into the city. This process is called:

• A) conurbation.
• B) urban renewal or gentrification.
• C) suburbanization.
• D) urbanization.

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Definitions:

Property

Assets or possessions owned by an individual or company, comprising both tangible items, like buildings and land, and intangible items like patents or copyrights.

Current Liability

A business's liabilities or amounts owed that must be settled with lenders within a twelve-month period.

Bonds Payable

Long-term liabilities represented by bonds that a company has issued, promising to repay the principal amount along with interest on specified dates.

Long-Lived Assets

Assets that are expected to provide economic benefits to a company over a period longer than one year, such as buildings, machinery, and land.