Anna Has Just Finished School and Started Looking for a Job

question 171

Multiple Choice

Anna has just finished school and started looking for a job, but has not yet found one. To which of the following pairs of categories does Anna now belong?

• A)unemployed and not in the labour force
• B)unemployed and in the labour force
• C)employed and not in the labour force
• D)employed and in the labour force

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Definitions:

Audited Company

An audited company is one that has undergone a formal examination of its financial accounts and statements by an independent auditor.

GAAP And GAAS

GAAP (Generally Accepted Accounting Principles) are a set of accounting standards used in the U.S., while GAAS (Generally Accepted Auditing Standards) are guidelines for auditors in executing audit engagements.

Prima Facie Evidence

Evidence that, on its face, is sufficient to prove a particular proposition or fact unless refuted by contrary evidence.

Negligence

A failure to exercise the care that a reasonably prudent person would exercise in similar circumstances, leading to harm or damage.