List the 3 (Three) Different Type of QuickBooks Files

question 12

Essay

List the 3 (three) different type of QuickBooks files. What is the purpose of each file type?

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Definitions:

Real GDP

The total value of all goods and services produced by a country, adjusted for inflation or deflation.

Expansionary Gap

A situation in macroeconomics when aggregate output is above potential output, often leading to inflationary pressures.

Recessionary Gap

Describes a situation where the real GDP of an economy is less than its potential GDP, indicating underutilized resources and a sluggish economy.

Deflation

A decrease in the general price level of goods and services in an economy over a period of time, potentially leading to increased unemployment and slower economic growth.