Examlex
Creative accounting can be defined as the deviation from the traditional methods used to interpret an accounting rule or standard.
Economic Recession
A period of significant decline in economic activity across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
Economic Expansion
A phase in the business cycle where an economy experiences growth in its GDP, income, and employment, leading to increased prosperity.
Federal Budget Deficit
The shortfall when the federal government's expenditures exceed its revenues in a fiscal year.
Fiscal Year
A fiscal year is a one-year period that companies and governments use for financial reporting and budgeting, which doesn't necessarily align with the calendar year.
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