According to Statistics Canada Data, Which of the Following Categories

question 5

Multiple Choice

According to Statistics Canada data, which of the following categories had the highest percentage of the labour force in 2009?

• A)unemployed 1 to 4 weeks
• B)unemployed 5 to 13 weeks
• C)unemployed 14 to 25 weeks
• D)unemployed 26 to 52 weeks

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Definitions:

Prepayment Accounts

Accounts that reflect payments made in advance for expenses that will be incurred in future periods, treated as assets until used.

Supplies Expense

Costs associated with the consumable items that are used in the daily operations of a business and not intended for resale.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period for a more accurate financial report.

Deferred Revenue

Money received for goods or services which have not yet been delivered or rendered, considered a liability until the service or good is provided.