-Referring to Figure 1

question 96

Multiple Choice

-Referring to Figure 1.9, if a point represents unemployment it is in

• A)AREA #1 but not on the curve.
• B)AREA #1 or is on the curve.
• C)AREA #2 but not on the curve.
• D)AREA #2 or is on the curve.

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Definitions:

Adjusting Entry

Journal entries made at the end of an accounting period to allocate income and expenditures to the appropriate period.

NSF Check

A cheque that cannot be processed because the writer's account lacks sufficient funds, standing for "Non-Sufficient Funds."

Debit Memorandum

A document or entry that records an adjustment or reduction in expenses payable to a vendor or an increase in inventory cost.

Adjusting Entries

Journal entries made in accounting records at the end of an accounting period to allocate income and expenditure to the correct periods.