By the Year 2013,what Percentage of Gross Domestic Product (GDP)will

question 11

Multiple Choice

By the year 2013,what percentage of gross domestic product (GDP) will the United States be spending on health care?

• A)nearly 5 percent
• B)nearly 10 percent
• C)nearly 20 percent
• D)nearly 30 percent

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Definitions:

Extraordinary Repairs

Infrequent expenditures that extend an asset’s life (such as a new engine in a car).

Betterments

Improvements that increase the efficiency of an asset by adding accessories or replacing parts with more effective/powerful ones.

Revenue Expenditures

Expenses incurred during the normal operation of a business that are expected to be consumed within the same accounting period.

Capital Expenditures

Funds used by a company to acquire or upgrade physical assets such as property, industrial buildings, or equipment.