Table 10-1
the Table Below Contains Data for Country a for the Year

question 76

Multiple Choice

Table 10-1
The table below contains data for country A for the year 2010. $\begin{array}{|l|l|}\hline \text { Household purchases of durable goods } & \$ 1293 \\\hline \text { Household purchases of nondurable goods } & \$ 1717 \\\hline \text { Household purchases of services } & \$ 301 \\\hline \text { Household purchases of new housing } & \$ 704 \\\hline \text { Purchases of capital equipment } & \$ 310 \\\hline \text { Inventory changes } & \$ 374 \\\hline \text { Purchases of new structures } & \$ 611 \\\hline \text { Depreciation } & \$ 117 \\\hline \text { Salaries of government workers } & \$ 1422 \\\hline \text { Government expenditures on public works } & \$ 553 \\\hline \text { Transfer payments } & \$ 777 \\\hline \text { Foreign purchases of domestically produced goods } & \$ 88 \\\hline \text { Domestic purchases of foreign goods } & \$ 120 \\\hline\end{array}$

-Refer to Table 10-1. What was country A's GDP in 2010?

• A)$6359
• B)$7136
• C)$7253
• D)$8147

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Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for a fixed asset, reducing its book value on the balance sheet over time.

Income Statement Columns

Sections within an income statement that separate financial data into categories, such as revenues, expenses, and net income, to facilitate analysis and understanding of a company's financial performance.

Adjusting Entries

Accounting records created at the closing of an accounting period for the purpose of assigning revenues and expenses to the timeframe in which they truly took place.

Adjusted Trial Balance

A financial statement that lists all the accounts and balances after adjustments have been made.