Unemployment

question 77

Multiple Choice

Unemployment:

• A)exists at any time during the business cycle.
• B)only occurs during times of recession.
• C)is highest during times of economic booms.
• D)tends to increase during times of economic recovery.

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Definitions:

Credit

An accounting entry that either increases a liability or equity account, or decreases an asset or expense account.

Internal Report

Documents generated within an organization for the purpose of informing internal stakeholders about business performance and operations.

Debit Balances

Financial account balances resulting from total debits exceeding total credits, common in asset and expense accounts.

Credit Balances

Amounts of money in financial accounts that indicates the institution owes the account holder; in accounting, it can indicate a surplus in a particular account.