Since the Mid-1950s the Proportion of American Workers Represented by Unions

question 14

Multiple Choice

Since the mid-1950s the proportion of American workers represented by unions has:

• A) Decreased.
• B) Increased.
• C) Remained about the same.
• D) Grown only in the manufacturing sector.

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Definitions:

Allowance for Doubtful Accounts

A contra asset account on a company's balance sheet that estimates the amount of receivables that may not be collected.

Credit Sales

Sales made by a business where the customer is allowed to pay at a later date.

Bad Debt Expense

A charge to the income statement for accounts receivable that a company has determined it will not collect.

Adjusting Entry

An entry made in the books of accounts at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.