The Unemployment Rate May Overestimate the True Extent of Unemployment

question 206

Multiple Choice

The unemployment rate may overestimate the true extent of unemployment if:

• A)​many part-time employees would like to work full-time, but are unable to get the additional work.
• B)​many people become discouraged and cease looking for work.
• C)​people falsely claim that they are actively seeking work in order to receive unemployment benefits.
• D)​all of the above

---

Definitions:

Supplies Expense

Costs associated with the consumable items used during a company's operations over an accounting period.

Journalized

The process of recording transactions in a company's journal as part of the accounting system.

Adjusted Trial Balance

A listing of all company accounts that will appear in the financial statements after adjusting entries have been made, verifying the equality of debits and credits.

Error Detection

The process of identifying inaccuracies, inconsistencies, or mistakes in financial information or accounting records.