Someone Who Is Without Work but Is Not Looking for Work

question 75

True/False

Someone who is without work but is not looking for work would be counted as unemployed.

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Definitions:

Recording

The process of capturing all financial transactions of a company for inclusion in its accounting records.

Posting

The process of recording transactions in the ledger accounts as part of the accounting cycle.

Debit

An accounting entry that represents an increase in assets or expenses, or a decrease in liabilities or equity, recorded on the left side of the accounting ledger.

Credit

The provision of goods, services, or money with the expectation of future payment, or an entry in accounting that increases liabilities and decreases assets.