Once an Account Has Been Closed for the Period, Inserting

question 143

True/False

Once an account has been closed for the period, inserting a line in the balance columns zeros out the account, making it ready for the following period.

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Definitions:

Savings

The portion of income not spent on current consumption or taxes, instead set aside for future use or investment.

Disposable Income

The money households have for spending and saving after subtracting income taxes.

Disposable Income

The amount of income left for spending or saving after taxes have been paid.

C + I

Represents the sum of consumer spending (C) and investment spending (I) in an economy's GDP formula.